A new report is making the rounds that retail giant Amazon is set to lay off roughly ten thousand employees, the latest in big tech cuts due to record market inflation.
The report (via the NY Times) cites anonymous sources that Jeff Bezos’ company will fire 10,000 employees in both corporate and technology positions, with the layoffs beginning this week. Similar tech layoffs have happened recently at Twitter, Meta (formerly Facebook), and others.
Specifically, the layoffs will affect the company’s “devices group,” which includes their Alexa voice assistant, HR group, and retail group. This is reportedly the largest cut in Amazon’s history, roughly 3% of their corporate staffing, but less than 1% of their total employees.
In case you didn’t know, Amazon is quite huge – employing over 1.5 million employees worldwide, most of which are hourly workers that help drive the retail giant’s ridiculous shipments pipeline.
Despite the layoffs in their corporate sector, the company is tripling down on employee hirings for the holiday season – so they can meet demand. The new hires will fill roughly 150,000 full-time, part-time, and seasonal jobs across their network.
Amazon is also projecting slowing sales in Q4 regardless of their holiday output, a slowing compared to their previous year. Still, their projected net sales will be between $140 to 148 billion, or between 2% and 8% growth.
From the report, Amazon also froze corporate hiring two weeks ago, which includes their big AWS cloud computing branch – a freeze that will last for months.
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