Amazon Will Lay Off 10,000 Employees; The Largest Layoff Plan in The Company's History

Amazon Will Lay Off 10,000 Employees; The Largest Layoff Plan in The Company’s History

Written by Valdemar Medeiros

Published on 15/11/2022 at 11:18

Updated on 15/11/2022 at 20:55

Foto: Amazon/Pixabay

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Layoffs That Could Reach 10,000 Employees Follow Job Cuts Similar to Those Already Adopted by Other Companies in the Technology Sector.

The e-commerce giant Amazon announced on the morning of Tuesday (15) the largest layoff plan in its history: 10,000 people. The layoffs from the technology company, which may begin this week, are targeted at corporate employees and may primarily affect Amazon’s device businesses, which include its Alexa products, as well as human resources and retail. The retail unit was the main organization that had to respond to a slowdown in sales this year.

Layoffs in the Technology Sector Increase

The news follows a wave of layoffs across the technology sector, which fears a recession after years of rapid hiring. Last week, Meta, the parent company of Facebook, said it would cut more than 11,000 jobs, or 13% of its workforce, to contain costs.

Multinational Amazon, headquartered in Seattle, is forecasting a slowdown in sales growth for the holiday season, typically a profitable time. Last month, CFO Brian Olsavsky said the company saw signs of tighter budgets for shopping and continued to struggle with high inflation and energy costs. Since then, it mentioned that it would freeze incremental corporate hiring for several months.

ARTICLE CONTINUES BELOW

Is the Technology Sector on Unstable Ground?

After years of impressive growth, the technology sector – a favorite among investors – is on unstable ground. The recent wave of layoffs follows months of warning signs, including technology startups, which are finding it harder to raise capital.

“The clock struck midnight on the hyper-growth of big tech companies,” said Dan Ives, financial analyst at Wedbush Securities, adding that significant job cuts at some of the largest companies in the tech sector mean “a recession is at hand.” Some economists have been warning about a potential recession for months.

Amazon, in particular, has been in expansion mode for most of its history, from the launch of its Prime subscriptions to pioneering cloud computing to the purchase of luxury grocery chain Whole Foods. The company, which generated US$ 469.8 billion in sales last year, said this summer that it would acquire healthcare network One Medical for US$ 3.9 billion.

Multinational Logistics Sector Continues Hiring New Employees

And Amazon’s warehouses continue to hire – the company cannot afford to reduce its logistics operations as it heads into the busiest shopping season of the year. The company said in October that it plans to add 150,000 workers nationwide for the holiday season, and there are no signs that it intends to reduce that number.

“Amazon will continue to be a powerhouse in retail and beyond,” Saunders said in a statement. “However, it will no longer have such easy growth. Its change in trajectory is a warning to others in retail, but it is also an opportunity for more agile players to examine how they can gain some market share.”

Amazon Will Lay Off 10,000 Employees; The Largest Layoff Plan in The Company’s History

Layoffs That Could Reach 10,000 Employees Follow Job Cuts Similar to Those Already Adopted by Other Companies in the Technology Sector.

Layoffs in the Technology Sector Increase

Is the Technology Sector on Unstable Ground?

Multinational Logistics Sector Continues Hiring New Employees

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Amazon Will Lay Off 10,000 Employees; The Largest Layoff Plan in The Company’s History

Layoffs That Could Reach 10,000 Employees Follow Job Cuts Similar to Those Already Adopted by Other Companies in the Technology Sector.

Layoffs in the Technology Sector Increase

Is the Technology Sector on Unstable Ground?

Multinational Logistics Sector Continues Hiring New Employees

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BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

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