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American company Amazon plans to lay off more than 18,000 workers in what will be the largest reduction in its history. This was expressed by Ukrinform’s Chief Executive
This was expressed by Ukrinform’s Chief Executive Officer, Andy Jesse, with reference to Bloomberg.
The company admitted that it hired too many people during the pandemic.
The layoffs that began last year were previously expected to affect around 10,000 people. The cuts will mostly be in the retail and hiring division of Amazon.
“These changes will help us realize our long-term opportunities with a stronger cost structure,” Jesse said.
Amazon investors have reacted positively to the latest austerity efforts, suggesting it could boost the company’s earnings. Shares of the company rose nearly 2% in late trading after the WSJ first reported on Amazon’s plans.
By the end of September, the company employed more than 1.5 million people, meaning the cuts will affect around 1% of the workforce.
As previously reported, mass layoffs have occurred at Meta, Twitter, Microsoft, Salesforce and other tech giants.
Source: Ukrinform
I’m Maurice Knox, a professional news writer with a focus on science. I work for Div Bracket. My articles cover everything from the latest scientific breakthroughs to advances in technology and medicine. I have a passion for understanding the world around us and helping people stay informed about important developments in science and beyond.
