Amazon to Cut 9,000 More Jobs, Deepening Biggest Pullback Ever

Amazon.com Inc. is going to lay off an added 9,000 workers, bringing the total number of layoffs to the firm’s all-time high.

CEO Andy Jassy declared the cutbacks privately on Monday, stating that they would take effect in the following weeks and therefore would impact Amazon Web Services, advertising, human resources, and the Twitch live broadcasting service communities.

“Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount,” he said in his memo, published later to Amazon’s corporate blog.

Source: news.yahoo.com

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Twitch’s arriving CEO stated in a personal blog article that 400 people would be laid off at the subsidiary based in San Francisco. A spokesperson for Amazon did not provide information on how the remaining layoffs would be distributed.

The e-commerce behemoth has been firing mainly corporate workers ever since a hiring binge during the global epidemic left Amazon with an overabundance of employees.

The company recently completed a round of massive layoffs summing up approximately 18,000 employees. These layoffs began in November and were concentrated primarily on Amazon’s recruitment and human resources workgroups, as well as its vast retail team as well as devices teams.

In New York, Amazon shares dropped 1.3 percent to 97.71 USD. This year, the stock has risen approximately 16 percent.

According to Jassy, the recent layoffs occurred ever since teams finished one other step of the firm’s yearly planning process. He stated that most of Amazon’s enterprises have witnessed tremendous growth in the last few years.

“The overriding tenet of our annual planning this year was to be leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole,” he said.

Source: news.yahoo.com

The layoffs arrive in the week following the announcement that Facebook acquirer Meta Platforms Corporation revealed a further 10,000 layoffs and the closure of around 5,000 extra open positions as part of its second large round of massive layoffs.

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Throughout a latest executive discussion, Meta CEO Mark Zuckerberg told staff that the business situation of job cuts as well as restructuring can last some more years.

Google’s parent corporation Alphabet Inc., Dell Technologies Inc., Microsoft Corp., and International Business Machines Corp. have all lowered their workforce. As per a Bloomberg survey, more than 67,000 positions had been lost in the business ever since the start of the calendar year as of early February.