As per individuals associated with the job cuts as well as a Zappos memo obtained by The Wall Street Journal, Zappos fired more than 300 of its workers the previous month, representing approximately 20 percent of the firm’s workforce in Las Vegas.
The Zappos job cuts were part of a larger round of cutbacks at Amazon which are anticipated to impact over 18,000 staff members, according to the Wall Street Journal. Those who are also the latest in a string of shifts by Zappos’ lifelong parent corporation that, according to individuals associated with the companies, have largely crumbled Mr. Hsieh’s legacy.
In the early 2000s, Mr. Hsieh led Zappos from its starting as just an online shoe business to its selling to Amazon in 2009 for 1.2 billion USD, & he remained in charge of it independently till his death at the age of 46 in November 2020. He has been well-known as a leading pioneer via his greatest book “Delivering Happiness,” in addition to being a famous and successful downtown Las Vegas developer.
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As per individuals associated with the businesses, one of the massive modifications at Zappos is the departure of a longstanding Zappos executive and Mr. Hsieh’s right-hand man for many years Tyler Williams, who resigned from the firm during the latest round of layoffs.
In an email to employees in January, existing CEO Scott Schaefer named the layoffs “extremely difficult news,” echoing views expressed by many other tech titans following recent layoffs.
“As we enter 2023, we are still facing an uncertain economy which required us to continue to take a hard look at our business, and respond in a way that ensures we are set up for long-term success,” he wrote to employees.
Source: wsj.com
According to individuals associated with the industries, Mr. Hsieh was willing to sell the company to Amazon upon the condition that the firm will function independently, even though Amazon is much more engaged in Zappos as well as its management decisions than it was when Mr. Hsieh managed the company. Zappos is presently financially viable, even if it has yet to meet all of the growth set targets by Amazon, according to the company.
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An Amazon spokeswoman said, “We’re proud of everything Zappos has accomplished since joining forces with Amazon in 2009, and we continue to support their ongoing commitment to delivering the best possible customer experience.”
Source: wsj.com
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