January 28, 2023

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Amazon announced 18,000 job cuts

Amazon.com Inc. It decided to lay off a total of more than 18,000 employees – the largest workforce reduction in the company’s history – underscoring the deep crisis the technology and online sales sector is going through. L’Executive Director Andy Jassy He announced the plan to lay off employees in a January 4 memo. Initially, the cuts, which began last year, were expected to affect about 10,000 employees, mainly concentrated in Amazon’s retail division and HR functions such as hiring.

The New York Times: Amazon ripped a record 10,000 seats

“Amazon has navigated difficult and uncertain economies in the past and we will continue to do so,” Jassy wrote. “These changes will help us pursue our long-term opportunities with a stronger cost structure; However, I’m also optimistic that we’ll be creative, resourceful, and distracted in this time where we don’t get so wildly carried away and let go of some roles.”

Letters of dismissal account for 6% of the workforce

Hardest hit by the mass layoffs at the company founded by Jeff Bezos will be store employees, such as Amazon Fresh And Amazon Go, and Pxt organizations, who manage human resources eg. Letters of dismissal will reach those affected as of January 18, Jassy said, adding that those affected represent six percent of the company’s roughly 300,000-strong workforce.

Although the The prospect of mass layoffs has been hanging at Amazon for months – The company has acknowledged that it hired too many people during the pandemic – The total number of employees, higher than expected, indicates that the company’s outlook has become more complex in recent months. The workforce meddling aligns with Amazon and other big tech companies bent on downsizing. American cloud computing company Salesforce Inc For example, headquartered in San Francisco and operating in 36 countries around the world, it recently announced its intention to shed about 10% of its workforce, more than 7,000 employees out of a total of 79,000, and reduce its real estate holdings.

Positive reaction from shareholders

Amazon investors have responded positively to the latest belt-tightening effort, Bet on increasing the profits of the e-commerce company. Shares are up about 2% in recent trading After the Wall Street Journal first reported the plan.