According to the New York Times, Amazon has reported that they are going to lay off around 10,000 employees in corporate and technology jobs this upcoming week. According to the report, which also states that the total number of layoffs remains uncertain, the job cuts will concentrate on their voice assistance Alexa along with its retail division and human resources.
The company has not responded to any of the comments yet. According to the reports of December 31, 2021, Amazon has more than 1.6 million employees that work a full-time jobs. Employees have also mentioned that the company had announced to freeze their hiring for the upcoming few months.
This information comes to light only a few weeks after Amazon issued a warning about a slowdown in the growth of high-value sales during the holiday season, claiming that consumers and businesses have less money to spend as a result of high prices.
This is going to be the highest number of layoffs in the history of Amazon.
Similarly, last week, Facebook which also runs Meta stated that it would cut 13% of its workforce (approximately 11,000 employees) to cut down on costs.
Amazon shares have reportedly lost around 40% of their value in the year 2022. Despite a general tech sell-off, they briefly cut their losses and were last seen down 2.4% at $98.38.