After Twitter & Meta, Amazon To Lay Off Thousands Of Employees

Two of the social giants, Twitter and Meta, already have laid off thousands of employees, and now Amazon of doing the same.

Amazon Laying Off Thousands Of Employees:

According to the reports and sources, it tells that the multinational IT company, Amazon, will soon be thinking of laying off thousands of employees. A person who’s familiar with the company stated on Monday that there would be a big reduction of employees to date.

This news was already reported by a reputable media outlet. The cuts that would be happening will be 3% of Amazon’s corporate staff. As of now, nobody knows the exact number of employees as there are businesses that are operating within Amazon. The company will be reviewing the priorities before doing it, and a source told the well-known media outlet, Reuters.

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At the moment, the online retailer is planning to eliminate jobs in the device organization. It means there will be layoffs in the Alexa gadgets, home security, HR and retail divisions. The time frame for informing these employees of Amazon is still unclear. Nobody knows what time period they will be giving to their employees.

The sources have said that the reduction is happening because of the uncertain macroeconomic environment which was faced by the multinational IT company.

This news was followed by a wave of mass layoffs across the IT sector because of the inflation and recession that is going on in the whole world. Last week, the tech-giant Facebook’s parent Meta Platforms Inc. already said to lay off employees and cut the employee count of 11000 in their office. It’s almost 13% of its workforce.

Amazon has predicted a slowdown in their sales growth because the holiday season is approaching.

What Do Officials of Amazon Say?

In a meeting with the reports, Chief Financial Officer Brian Olsavsky said that the company saw some signs of tighter household budgets for shopping and still try to battle higher inflation and energy costs. However, the company has frozen corporate hiring for several months.

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Some of the units of Amazon, which includes devices units, have posted an annual operating loss of more than $5 billion. The WSJ reported this. The company has weighed on whether to focus on new capabilities for Alexa when some of the customers use the voice assistant to get their few tasks done. 

Let’s see what the upcoming days will bring for the people of this company.

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