Amazon reveals huge job layoffs to help cut costs
18,000 Amazon jobs have been cut since November
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
Just days after entering into a credit agreement worth $8 billion,Amazonis the latest company to announce major layoffs affecting thousands of workers.
In a statement on theAmazon website, CEO Andy Jassy explained that a teammate had leaked information regarding the cutbacks, forcing a decision to announce publicly that a total of 18,000 jobs would be axed, without first “speak[ing] with the people who are directly impacted”, leading to further speculation about uncertainty within the company.
Including the elimination of a number of positions in its Devices and Books division in November 2022, and the voluntary reduction offer for People, Experience, and Technology (PXT) workers, a further large-scale layoff will see the company’s total headcount reduce by 18,000 in recent months.
18,000 Amazon jobs axed
Jassy warned that PXT and Amazon Store workers are likely to be most affected, however the company has refrained from making any formal decisions until January 18 2023, when it will communicate with the relevant staff and European employee representative bodies.
Start anew with the best hybrid working tech>Laid-off tech workers are finding new jobs pretty quickly>Amazon secures $8bn loan to secure itself against market turbulence
In an effort to soften the blow, Amazon has committed to offering separating payments, transitional health insurance benefits, and external job placement support.
Jassy claims that “Amazon has weathered uncertain and difficult economies in the past, and [it] will continue to do so.” He hopes that this drastic move will help the company to continue “finding a way to do more for customers at a lower cost” so that savings can be passed on to customers.
TheWall Street Journalreports that the total number of workers represents approximately 1.5% of the company’s 1.5 million employees; a company that recruited hard after experiencing huge success during a boom in e-commerce following the coronavirus pandemic.
Are you a pro? Subscribe to our newsletter
Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!
Following an economic downturn that saw its market cap reduce from a 2021 high of $1.88 trillion to a present-day value of $875 billion, it joins companies likeSalesforceandMicrosoftin major cutbacks.
With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!
Google puts Nvidia on high alert as it showcases Trillium, its rival AI chip, while promising to bring H200 Tensor Core GPUs within days
A new form of macOS malware is being used by devious North Korean hackers
Quordle today – hints and answers for Saturday, November 9 (game #1020)
