Amazon to lay off 10,000 workers; its largest job cut yet


SEATTLE – Amazon will layoff 10,000 of its employees, or 3% of its global workforce, according to the New York Times. This is the tech and retail giant’s largest job cut in its history.

The cuts, according to the Times’ sources, will center around Amazon’s devices organization – which include Alexa – as well as its retail and human resources divisions. The exact number of layoffs is not certain and will likely be implemented team by team. They’re set to begin as early as this week.

There have been subtle hints that layoffs could come at Amazon, which stopped hiring for several of its divisions in September. It has also closed warehouses over the past few months and cut its free Whole Foods delivery and Scout home delivery robot.

Amazon boomed over the pandemic, notching in the most profitable period of its history. The company doubled its workforce and expanded into new segments.

But as the pandemic waned, growth slowed rapidly. Despite experiencing a rebound from the previous quarter, third quarter sales for the company missed expectations, causing shares to drop 13%. Sales could weaken further, predicts the company, potentially falling to their lowest pace since 2001’s dot-com crash.

Amazon isn’t the only giant experiencing worsening conditions. Fellow tech behemoth Facebook/Meta is in the midst of laying off 11,000 workers, or 13% of its staff. On the freight side, FedEx confirmed layoffs, with J.B. Hunt, Werner and Knight-Swift saying they would make ‘adjustments.’

Related stories:





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *