{"id":28010,"date":"2023-01-05T21:03:35","date_gmt":"2023-01-05T21:03:35","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/05\/amazon-layoffs-much-worse-than-expected-will-hit-18000\/"},"modified":"2023-01-05T21:03:35","modified_gmt":"2023-01-05T21:03:35","slug":"amazon-layoffs-much-worse-than-expected-will-hit-18000","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/05\/amazon-layoffs-much-worse-than-expected-will-hit-18000\/","title":{"rendered":"Amazon layoffs much worse than expected, will hit 18,000"},"content":{"rendered":"

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Amazon layoffs to reach 18,000 employees total<\/p>\n


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Once layoffs are complete in the coming weeks, Amazon will have laid off more than 5% of its workforce to make investors feel better about earnings. <\/p>\n

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Tech companies are consolidating their workforce after a tough year in 2022. Apple announced it would slow its hiring<\/a>, while Amazon has begun laying off large numbers of employees. <\/p>\n<\/div>\n

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An earlier report said that layoffs would reach around 10,000<\/a> employees by the time Amazon was done. However, a new report<\/a> by the Wall Street Journal<\/em>, citing Amazon itself, says that total is set to exceed 18,000 in the coming weeks. <\/p>\n<\/div>\n

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Amazon was among many companies to grow its workforce as a result of Covid-19. Demand for online shopping rose throughout 2020 and 2021, so Amazon doubled its logistics network and hired hundreds of thousands of employees. <\/p>\n<\/div>\n

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As the world opened back up and in-person work and shopping resumed, Amazon felt the pressure. It started by cutting back on spending, freezing hiring, and ultimately deciding on layoffs. Amazon’s 18,000 laid-off employees will represent the highest number of people let go by a tech company in recent months. <\/p>\n<\/div>\n

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Employees targeted by the layoffs included those in the devices business, recruiting, and retail operations. It will result in a 5% overall reduction in corporate staff at Amazon. <\/p>\n<\/div>\n

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So far, Wall Street is not impressed. The consensus is that the cuts do not go far enough, and Amazon needs to further trim costs. <\/p>\n<\/div>\n

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AppleInsider<\/em> will be covering the 2023 Consumer Electronics Show in person on January 2 through January 8 where we’re expecting Wi-Fi 6e devices, HomeKit, Apple accessories, 8K monitors and more. Keep up with our coverage by downloading the AppleInsider app<\/a>, and follow us on YouTube<\/a>, Twitter @appleinsider<\/a> and Facebook<\/a> for live, late-breaking coverage. You can also check out our official Instagram<\/a> account for exclusive photos throughout the event.<\/p>\n<\/div><\/div>\n