Saturday, June 10, 2023

Amazon ready to sack 18,000 workers

Global e-commerce giant Amazon has revealed plans to sack some 18,000 employees.

• January 6, 2023

Global e-commerce giant Amazon has revealed plans to sack some 18,000 employees.

The tech behemoths, with 1.5 million workers worldwide, did not say which nations would be affected by the job losses.

It is expected that the company’s consumer retail business and human resources section will be where the majority of job losses occur.

Speaking on the situation, Amazon’s boss Andy Jassy blamed the layoffs on the “uncertain economy,” noting that it had “hired quickly over several years.”

“We don’t take these decisions lightly or underestimate how much they might affect the lives of those who are impacted,” he said in a memo to staff. “Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year.”

After the epidemic, when consumers at home spent a lot of money online, Amazon saw a decline in sales. Analysts have tied the decline to easing restrictions that initially prevented shoppers from visiting actual stores.

Tech companies are adversely impacted by falling advertising income due to corporations cutting costs and consumers cutting down on spending as the cost of living worsens.

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