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published in Blogs
Nov 15, 2022
Amazon (AMZN, $98.49) to reportedly lay off 10,000 people - New York Times report suggests

Amazon (AMZN, $98.49) to reportedly lay off 10,000 people - New York Times report suggests

Amazon might be planning to layoff around 10,000 people, according to a report from the New York Times. The retrenchment would be the largest in Amazon history.

The report indicated that the layoffs (which would represent around 3% of Amazon’s global workforce) will be concentrated in the devices, retail and human resources segments. Some employees working on the company’s virtual assistant Alexa also stand to lose their jobs, the report mentioned.   The number of layoffs remains flexible and is likely to be implemented team by team, as suggested by the report.

In late October, Amazon posted a disappointing holiday revenue outlook, and revealed a slowing down in the growth rate of in its Web Services business.

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