Continuing with the layoffs, Amazon announced to slack more than 18,000 employees, a bigger number than previously planned.
On the 5th of January, Mr. Andy Jassy, the Chief Executive Officer (CEO) of Amazon, announced the move in a memo to staff. The decision was taken as per the annual planning process, considering the economic uncertainty in the technology field.
The cuts in employees started in 2022 end and is still continuing, which would be focusing in the firm’s corporate ranks, mostly Amazon’s retail division and human resources functions like recruiting.
Mr. Andy Jassy said, “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so these changes will help us pursue our long-term opportunities with a stronger cost structure.”
Meanwhile, speaking of layoffs, Amazon investors gave a positive reaction to the latest belt tightening efforts, which would boost profits at the e commerce company. The shares climbed nearly 2% in late trading after the Wall Street Journal first reported on the plan of layoffs.
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