thenewsfacts.com
  • Home
  • Latest News
  • Trending News
  • Entertainment
  • Technology
  • Sports
  • Business
  • Health
thenewsfacts.comthenewsfacts.com
Font ResizerAa
Search
  • Home
  • Latest News
  • Trending News
  • Entertainment
  • Technology
  • Sports
  • Business
  • Health
Follow US
© thenewsfacts : All Rights Reserved.

Home » Amazon to Lay Off 18,000 Employees Due to “Uncertain Economy”

Business

Amazon to Lay Off 18,000 Employees Due to “Uncertain Economy”

TheNewsFacts
Last updated: January 5, 2023 1:47 pm
TheNewsFacts
Share
Amazon to Lay Off 18,000 Employees Due to "Uncertain Economy"
SHARE

Amazon, the e-commerce giant, announced on Wednesday that it will be laying off over 18,000 employees starting January 18. The company had already laid off about 10,000 staff in November. In an email to staff, Amazon CEO Andy Jassy cited “uncertain economy” and “rapid hiring” as the reasons behind the job cuts.

“Between the reductions we made in November and the ones we’re sharing today, we plan to eliminate just over 18,000 roles,” Jassy said in the statement to his staff. The majority of the role eliminations will be in Amazon Stores and the People Experience and Technology Solutions (PXT Solutions) teams. However, Jassy stated that several teams have been impacted.

Andy Jassy added that Amazon is “deeply aware these role eliminations are difficult for people, and we don’t take these decisions lightly.” The company is working to support those who are affected and is providing packages that include a separation payment, transitional health insurance benefits, and external job placement support. The company will be communicating with impacted staff (or employee representative bodies in Europe) starting on January 18.

Tech Companies including Amazon Turn to Job Cuts to Survive Economic Headwinds

This layoff announcement is in line with the approach followed by many tech companies, which have resorted to job cuts in order to survive the economic headwinds. Firms are looking to reduce expenses in the face of inflation and rising interest rates.

In November, Facebook parent Meta announced the loss of 11,000 jobs, or about 13% of its workforce. At the end of August, Snapchat fired about 20% of its employees, or about 1,200 people.

After billionaire Elon Musk took over Twitter in October, the social media platform let go about half of its 7,500 employees. More recently, IT major Salesforce announced that it was laying off around 10% of its employees, or just under 8,000 people.

While Jassy’s email did not mention India specifically, it was reported in November that Amazon was looking to cut jobs in the country as well. The company has shut down its smaller businesses in India, such as food delivery, wholesale distribution, and Amazon Academy, as part of its restructuring efforts in the country.

However, in December, Amazon’s consumer business country manager for India, Manish Tiwary, stated that the company was only reevaluating its experiments in the country and not shutting down businesses.

Tiwary added that Amazon remains committed to the local market and will be doubling down on its investments in its business-to-business (B2B) marketplace, pharmacy, grocery, and social commerce in 2023.

While job cuts can be a necessary measure for companies to survive economic challenges, they can also be a difficult and unsettling experience for the employees affected. Companies such as Amazon have stated that they are working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support.

It remains to be seen how these job cuts will impact the tech industry as a whole. However, it is clear that tech companies are taking steps to navigate the uncertain economic climate and position themselves for future success.

TAGGED: Amazon Job Cuts, Amazon Pink slips to 18000 employees, Andy Jassy
Share This Article
Twitter Email Copy Link Print
Previous Article Hyderabad E-Prix 2023; Tickets sales begin for the first ever Formula E World Championship race in India Hyderabad E-Prix 2023; Tickets sales begin for the first ever Formula E World Championship race in India
Next Article Walter Cunningham passing, a deep blow to the field of science Walter Cunningham passing, a deep blow to the field of science

Your Trusted Source for Accurate and Timely Updates!

We're committed to providing accurate and unbiased news as it unfolds, earning the trust of a large audience. Stay informed with our news updates on the latest events and trends, keeping you ahead of the curve.
FacebookLike
TwitterFollow
InstagramFollow

Popular Posts

Shinzo Abe Condition Unknown, The World waits with bated breath

The condition of Japan's former prime minister Shinzo Abe who was on Friday shot at…

By TheNewsFacts

44th Chess Olympiad: Chennai Celebrates its Chess Supremacy

India will host the 44th Chess Olympiad for the first time , which runs from…

By TheNewsFacts

Xbox New Night Mode Feature Sound Super Exciting

Xbox from Microsoft is publicly testing a night mode feature that should make it more…

By TheNewsFacts

You Might Also Like

Rio Tinto
Business

AMG, Rio Tinto Plan 500K TPA Green Aluminium in India

By TheNewsFacts
BluSmart
Business

BluSmart’s EV U-Turn: Platform Out, Fleet In

By TheNewsFacts
GreenLine Mobility Solutions
Business

GreenLine Bets Big on Net-Zero Logistics; Invests $275M

By TheNewsFacts
xAI Elon Musk
Business

Musk’s $33B xAI-X Deal Promises New AI-Social Media Era

By TheNewsFacts
thenewsfacts thenewsfacts

About US


TheNewsFacts: Brings you the interesting facts, news facts and updates from India an the world across politics, tech, entertainment, business, tending, and more. We deliver what you love to read.
Top Categories
  • Latest News
  • Trending News
  • Paris Olympics 2024
  • Sports
  • Entertainment
  • Business
  • Technology
Usefull Links
  • About The News Facts
  • Latest News
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Contact Us
Follow us
Facebook Twitter Instagram

© thenewsfacts. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?