— Amazon reportedly plans to lay off 10,000 employees in corporate and tech divisions.
— The company is yet to confirm the news and share details on planned compensations.
A report by The New York Times claimed that e-commerce giant Amazon is planning to lay off 10,000 employees. People working in the company’s corporate and technology divisions are the most affected.
While several other tech giants have resorted to lay offs amidst the biting economic situation in the industry, Amazon had held on for quite a while. Although, it too had been rumoured to have effected hiring freeze earlier this year.
As CNBC estimates, the layoffs would affect a very small faction of the company’s workforce (less than 1%). However, whoever is on the receiving end would definitely not feel good about losing their jobs.
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Amazon’s employees grew to 1.6 million within two years — from 2019 to 2021 — likely because of the increased demand for deliveries during the pandemic. Now, the 102% increase looks like a bad decision.
The company is not alone as the post-pandemic financial situation of tech companies saw them spending more on operational cost than they could afford. Many of these companies simply grew their workforce too fast, as Stripe’s CEO conceded in a statement when he announced firing over 1,000 employees.
The layoffs coming as the holiday season approaches is quite surprising and it could mean that the company’s new CEO, Andy Jassy, is sticking to his ideology of cutting cost. Additionally, it could mean that Amazon plans to satisfy its need for more hands during the holidays with part-time or gig workers. Although, the later does not match the report that corporate employees were the ones getting the boot.
For now, Amazon has not confirmed if it is laying off employees or not. Meanwhile, a recent TechCrunch article shed light on just how much robots have found themselves at home in the company’s warehouses, reducing the need for human labour.
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