They Promise to Give Their Fortunes Back To Society but are Cutting Jobs that puts food on Tables of REAL FAMILIES ! What a Scam
Amazon plans to start letting go of 10,000 corporate and tech employees — or about 3% of white-collar staff — as soon as this week, according to The New York Times, which cited anonymous sources. The cuts, also reported by Reuters and The Wall Street Journal, will be the biggest in the history of the e-commerce giant, and would target units where growth is slowing amid a drop-off in pandemic online sales: retail, human resources and the devices unit that houses virtual assistant Alexa. The retrenchment by the e-commerce giant during the peak holiday shopping season underscores the economic uncertainty facing businesses, especially in technology.
The company reduced head count by 80,000 from April through September, mostly through attrition, and has frozen hiring at both the corporate and hourly level.
When it pours, it rains. Now it’s Amazon’s turn to slash headcount, joining Meta and Twitter. Frankly, layoffs are never easy but I had anticipated this moment, as Amazon overexpanded during the two pandemic boom years of FY20-21. Just 3% of its corporate headcount, but it’s a good start. As it needs to cut back on its OpEx base, as Amazon Web Services (AWS) growth weakened, and operating leverage fell from a cliff. It’s payback time.
See The New York Times report:
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The job cuts of approximately 10,000, which would start as soon as this week, would focus on the company’s devices organization, retail division and human resources. The cuts will focus on Amazon’s devices organization, including the voice-assistant Alexa, as well as at its retail division and in human resources, said the people, who spoke on condition of anonymity because they were not authorized to speak publicly.
The total number of layoffs remains fluid. But if it stays around 10,000, that would represent roughly 3 percent of Amazon’s corporate employees and less than 1 percent of its global work force of more than 1.5 million, which is primarily composed of hourly workers.
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Amazon Is Said to Plan to Lay Off Thousands of Employees
The shaky economy means companies from Twitter to Meta are laying off workers by the thousands. Now Amazon is reportedly cutting 10,000 jobs.
The news comes after Amazon paused corporate hiring recently.