WSJ reports Amazon layoffs to hit over 18,000 workers
According to report by Wall Street Journal today, Amazon Inc’s layoffs will likely affect 18,000 workers. This is touted to be biggest job cuts in recent times.
Earlier in November, it was reported that Amazon will layoff around 10,000 workers due to recession fears. As of September, Amazon employed 1.5 million people, with a large percentage of them in its warehouses. The layoffs are concentrated in the company’s corporate ranks.
After the report came out, Amazon’s CEO Andy Jassy addressed the job cuts in a blog post saying, “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so.”
Amazon hired huge number of workers during the pandemic as people started moving to online shopping. However, after the pandemic came under control, and people started going out to actual shops, the demand for online shopping reduced, affecting Amazon’s profits.
In the spring and summer, the company made targeted cuts to bring down costs, shutting physical stores and business units such as Amazon Care. Amazon later announced a companywide hiring freeze before deciding to let employees go.