What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
E-commerce giant Amazon is planning to lay off around 10,00 employees as a cost-cutting measure. The tech company has registered losses in the last few quarters. As per reports published in international media, the company could fire as many as 10,000 employees. The process can begin this week.
This could prove to be the biggest layoff in Amazon’s history. The company employs over a million people worldwide.
The job cuts will be mainly focus on some specific unprofitable units that may involve the devices section products like like Alexa voice assistant.
Earlier, the e-commerce giant had warned of a slowdown in growth for the busy holiday season, a period when it used to generate the highest sales.
Amazon said this was because consumers and businesses have less money to spend due to inflation.
There has been a sharp slow-down in e-commerce growth as consumers go back to pre-pandemic habit of shopping in concrete outlets.
The largest e-commerce company in the world recorded high profits during COVID-19 pandemic and lockdown years. These years saw exponential growth in online consumer spending.
Amazon is not the only tech company to fire people as recession becomes more and more evident.
On November 9th Meta said it would fire 11,000 people, or 13% of its workforce. “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1,” said company founder Mark Zukerberg.
Ever since taking over Twitter, owner Elon Musk has fired half the employees, as a cost-cutting measure.
