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Amazon Layoffs to Hit Over 17,000 Workers

Old_JoeOld_Joe
in Other Investing
Cuts focused on the company’s corporate staff exceed earlier projection

Following are excerpts from a current report in The Wall Street Journal:
Amazon Inc.’s layoffs will affect more than 17,000 employees, according to people familiar with the matter, the highest reduction tally revealed in the past year at a major technology company as the industry pares back amid economic uncertainty.

The Seattle-based company in November said that it was beginning layoffs among its corporate workforce, with cuts concentrated on its devices business, recruiting and retail operations. At the time, The Wall Street Journal reported the cuts would total about 10,000 people. Thousands of those cuts began last year.

The rest of the cuts will bring the total number of layoffs to more than 17,000 and will be made over the coming weeks, some of the people said. 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, some of the people said.

Comments

  • MarkMark
    So as unfortunate as that is for the affected individuals it amounts to a little over 1% of their workforce. It leaves me wondering just what all those folks in corporate were doing.
  • MarkMark
    Nevermind, found it.

    "(Reuters) -Amazon.com Inc's ( AMZN ) layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday.
    The layoff decisions, which Amazon ( AMZN ) will communicate starting Jan. 18, will largely impact the company's e-commerce and human-resources organizations, he said.
    The cuts amount to 6% of Amazon's ( AMZN ) roughly 300,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent."

    Amazon CEO says job cuts to exceed 18,000 roles
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