Amazon Joins the Layoff Trend

Amazon Joins the Layoff Trend-feature image
November 16, 2022 2 Min read

As per reports, the tech giant, Amazon is planning to lay off 3% of its office staff and cut about 10,000 jobs. The firm has taken this drastic step, seeing slow sales and rising concerns about an economic downturn. Already, this year Amazon has witnessed a fall of more than 40% in their share price because of slow online sales. Employees affected by the layoff decision have already started to post on LinkedIn about the same.

Last month only, Jeff Bezos, Amazon Founder & Chairman warned the US economy is signaling to “battle down the hatches”.

As per BBC, the layoff has impacted employees in Amazon’s Alexa virtual assistant business, Lab126- operations related to Kindle, e-reader, and a division of cloud gaming platform, Luna. Amazon has already announced a hiring freeze and halted a few warehouse expansions, which turns out to be a warning that it has over hired employees during the pandemic. In addition, it has even canceled projects like a personal delivery robot, among others.

Layoff impacted employees posted on LinkedIn saying, “Of course, I am saddened, yet optimistic about the future because I know this means a good change for me and others on my team.”

Another employee, who was employed in the US, as a Software Development Engineer, said that she is looking for a new job, but has limited time because of her Visa restrictions. She said, “Due to the nature of my visa, I have limited time to look out for new work opportunities.”.”

So, as a part of cost cutting, Amazon has also started layoffs similar to other tech giants like Meta, Twitter, Stripe, Microsoft, and Salesforce.

Written by Riya Pathak

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