AMAZON UPDATES: Amazon Layoffs 10,000 Employees

The New York Times reported on November 14, 2022

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

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

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

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

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

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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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