AMAZON UPDATES: Amazon Layoffs 10,000 Employees

The New York Times reported on November 14, 2022

Amazon is planning to lay off as many as 10,000 employees in “corporate and technology” across the world

The layoffs, which have not yet been officially announced by Amazon, will be the largest in the company’s history.

The news regarding the layoffs isn't entirely surprising, as the company has been taking strict measures to cut costs

The main reason is the contraction in demand as the world comes out of the Covid-19 pandemic.

Amazon in its latest quarter experienced a slight rebound, however, it has cautioned investors that growth could weaken again.

Twitter and Meta also announced major layoffs earlier this month. Twitter removed around half of its workforce amounting to around 3700 employees.

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