Online retail giant AmazonIt announced plans to layoff more than 18,000 employees around the world.
It would be the largest layoff programme in the company’s history. It plans to try to cut costs across its business.
The UK and Europe will both be affected by the job cuts, but details about how each country will be affected are still unknown.
Amazon employs approximately 1.5 million people worldwide It warned in November that it plans to cut up to 10,000 workers.
The tech giant has now increased that number to more than 18,000 in the course of an in-depth review.
Amazon stated that the roles most affected by the changes will be those in its stores, such Amazon Fresh and Amazon Go.
CEO Andy Jassy stated that these changes would help us pursue our long term opportunities with a stronger costs structure in a note to employees. The note was made public.
He blamed the economy for the move, adding that “we’ve hired quickly over these past several years.”
Mr Jassy also claimed that the announcement was made because one of its employees had leaked the details.
“We decided it would be best to share this news earlier so you can hear the details directly from me,” said Mr. Jassy.
The company said it expects to inform employees directly affected by the cuts starting Jan. 18. It also stated that it is offering severance payment, transitional insurance benefits and employment support.
Mr Jassy stated that “Long-lived businesses go through different phases. They are not in a position to expand heavy people every year.
Amazon anticipated slower growth due to high inflation which encouraged consumers and businesses to cut spending. Amazon’s share price fell by half in the past year.
According to Layoffs.fyi tracking website, more than 150,000 tech workers will be laid off in 2022. And that number continues to grow. Salesforce, the other US tech giant, stated yesterday that it intends to reduce approximately 10 percent of its staff, which is roughly 8,000 people.
Amazon’s fortunes were radically reversed. It has transformed from a company that was essential to supply goods to closed homes during the pandemic, to one that is in high demand.
Layoffs are now higher than ever The 11,000 cuts announced last year by Facebook parent company Meta.
More: An Amazon delivery driver has been banned after going 166mph on the highway
More: Tesla posted record sales in 2022 – but it still fell short of Elon Musk’s promises
Get the latest news and analysis.
Source link
[Denial of responsibility! wideworldmag.co.uk is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – at wideworldmag.co.uk The content will be deleted within 24 hours.]
