If the number of layoffs remains more than 10,000, then this will be the first time in the history of Amazon, when such a large number of employees will be dismissed.
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Amazon Preparing to lay off thousands of employees. The last few months of the company have not been profitable. It is being told that the company can also implement some cost-cutting measures. According to the New York Times, the company may sack more than 10,000 employees by the beginning of this week. If this number of layoffs remains, then this will be the first time in the history of Amazon, when such a large number of employees will be sacked.
Amazon has 1.6 million employees worldwide and if 10,000 layoffs are done then it will not be even 1 percent of the company’s total workforce. The NYT report said the job cuts will be focused on Amazon’s device unit, which houses voice-assistant Alexa, and its retail and human resources divisions. According to media reports, Amazon, after a month-long review, had warned employees in some unprofitable units to look for other opportunities within the company.
The company may suffer losses in the holiday season
The report states that Amazon is closely evaluating its Alexa business and is looking at whether the company should focus on efforts to add new capabilities to the voice assistant. This report of the e-commerce giant has come after the company has warned that the company’s profit may decline in the holiday season. Usually in this season, the company used to do bumper sales, which is expected to decline. It has been told in the report that this decline in the sale of the company is due to the increase in prices.
Twitter, Meta also laid off
After the announcement of retrenchment, the stock of the company has also registered a decline. The company has lost about 40 per cent of its stock. The company’s stock was trading at $ 98.38, down 2.4 percent. Amazon is not the first company to announce layoffs amid a possible economic downturn. Earlier, after the takeover of Twitter, Elon Musk cut the company’s workforce by 50 percent. At the same time, Facebook’s parent company Meta also fired 11,000 employees.
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