Amazon considers laying off thousands in biggest reduction to date

SEATTLE (15 Nov. 2022): Following META, Inc considers laying off nearly 10,000 employees beginning this week, in what is being termed its biggest reduction to date. 

According to media reports, a source familiar with the matter made the claims that Amazon planned to fire 10,000 employees in corporate and technology roles. It is estimated that the laid-off employees will account for approximately three percent of Amazon’s corporate staff however, the exact number may vary. 

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Amazon which is an online retailer reportedly plans to cut down on jobs in its devices organization, which is responsible for products related to Alexa and home security cameras, respectively. Apart from this, employees in human resources and retail divisions may also be fired, claimed a source close to the matter. 

No definite timeframe has been given to the employees, added the source.

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The source added that the decision to lay off employees is driven by an uncertain macroeconomic environment faced by the retailer and other tech companies including Facebook parent META. It is pertinent to note that earlier, Meta Platforms Inc announced the decision to cut down over 11,000 jobs accounting for thirteen percent of its total workforce. 

Speaking on the issue, CFO Brain Olsavsky said that the administration has noticed household budgets getting tighter added due to the woes of inflation and energy costs. The claim falls in line with reports that Amazon has recorded an annual loss of more than $5bn, with Amazon shares losing more than forty percent of their value in 2022 alone.

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