Amazon Announces 10,000 Layoffs

Amazon Announces 10,000 Layoffs

Amazon is planning to lay off around 10,000 employees from various departments, from corporate to technology roles, starting this week.

The news of Amazon laying off 10000 employees made the company's shares closed down about 2% on Monday.

It would be the company's largest cut and impact Amazon's retail, human resources, and devices division.

The layoff would impact less than 1% of the company's global employees and 3% of its corporate staff.

So, first thing first, why is Amazon laying off workers? Besides the current global economic uncertainty, Amazon also confronts slowing sales in third-quarter earnings.

Interestingly, these Amazon employees' layoffs happen during the holiday shopping season. The company always hires more employees during the holiday seasons to meet demand.

After all, Amazon has announced a plan to stop hiring for corporate roles in its retail business.

They even shut down some services in recent months, such as telehealth service, video-calling projector for kids, and roving delivery robot.

The Amazon layoff blind news also impacts it as its stock is down about 41% for the year. Amazon must be careful since it's on pace for its worst year since 2008.

Besides Amazon, other tech firms like Meta and Twitter reported headcount reductions this month.

Designed by Alexander Rabu