26.9 C
26.9 C

Amazon to lay off thousands of employees




Share this story

AMAZON is to lay off 10,000 employees, about three per cent of its over 1.5 million workforce as of September 30, media reports said on Wednesday.

This is coming after Twitter and Meta downsized their workforce.

An official post by Amazon’s Senior Vice President of People Experience and Technology Beth Galetti said economic uncertainty will halt hiring to balance the workforce while managing challenges.

According to the BBC there are LinkedIn posts by workers who claim they have been impacted by Amazon job cuts.

Employees affected include those in Amazon’s Alexa virtual assistant business, Luna cloud gaming platform division and Lab126 – the operation behind the Kindle e-reader.

Amazon’s founder and chairman Jeff Bezos warned about the United States economic downturn last month, while the company’s share price fell by 40 per cent.

While big technology firms Twitter and Meta have downsized their workforce to cut costs, Microsoft, Stripe and Salesforce have also announced staff cuts.

- Advertisement -

An anonymous insider told the BBC that the job market had changed due to remote work.

“The last two years has been great for job opportunities because of remote work meaning you don’t have to isolate a job search to your local area. So that’s seen the scramble for talent become very competitive and wages have gone up really high.

“What we’re seeing now is a contraction in budgets and staffing,” he said.

He added that technology companies, including Amazon, may be hit hard as there are lots of workers who are not providing much value and must be cut off.

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.



Uncertainty over Iran’s disbandment of morality police

THERE is uncertainty over the alleged abolishment of morality police in Iran, following massive...

Indonesia bans sex outside marriage for citizens, foreign visitors

INDONESIA'S Parliament unanimously voted on Tuesday, December 6, to ban sex outside of marriage...

Truck hits transmission tower in Abuja, disrupts power supply

THE Transmission Company of Nigeria (TCN) has confirmed the disruption of power supply in...

Naira redesign: CBN imposes limit to cash withdrawals in banks

Approximately a week to the commencement of the circulation of the newly redesigned naira...

Police arrest suspected kidnapper, rescue victims in Nasarawa

THE Nasarawa State Police Command says it has arrested a suspected kidnapper and rescued...

Most Read


Subscribe to our newsletter