Amazon said on Monday it would cut a further 9,000 jobs.
(Photo by European News Agency)
[Financial Channel/Comprehensive Report] The e-commerce leader Amazon (Amazon) said on Monday (20th) that it will further lay off 9,000 employees. As the overall economic uncertainty forces companies to streamline, this wave of layoffs continues to sweep through the technology industry.
Reuters reported that Amazon has cut 27,000 jobs in recent months, or about 9 percent of the company's 300,000-strong workforce.
It's a marked shift for a company that for years has touted its job creation.
Amazon's goal is to identify candidates for a new round of layoffs by April.
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The latest layoffs will target Amazon's high-margin cloud computing and advertising units, which were considered immovable until economic worries caused customers to scrutinize their spending.
Layoffs will also affect Amazon's video-streaming Twitch, where Dan Clancy, who was named CEO of Twitch last week, said the platform is expected to lay off more than 400 employees.
Shares of Amazon closed down 1.25 percent on Monday following the news.
Technology giants recruited on a large scale during the epidemic, but as economic uncertainty spread, companies including Microsoft (Microsoft) and Google's parent company Alphabet announced layoffs one after another.
Facebook (Facebook) parent company Meta announced last week that it will lay off another 10,000 employees this year, starting a second round of layoffs after cutting 11,000 in 2022.
Michael Pachter, an analyst at Wedbush Securities, said that Amazon's actions this time mean little to other companies, but that everyone will be more cautious in the future before allowing the number of employees to surge.
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