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Wednesday, April 24, 2024

Amazon layoffs to impact more than 17k employees: Reports


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Washington: Layoffs by e-commerce giant Amazon will impact more than 17,000 employees, The Wall Street Journal reported, citing people familiar with the matter.

In November, Amazon announced layoffs among its corporate staff, with approximately 10,000 jobs expected to be cut. Thousands of those jobs were cut last year, with more layoffs in the coming weeks expected to bring the total number of jobs lost to over 17,000, the report said on Wednesday.

Amazon doubled its logistics network and added hundreds of thousands of employees during the COVID-19 pandemic, of which the online retailer was a beneficiary, according to the report.

However, with demand beginning to decline as customers return to in-person stores, Amazon is looking to cut costs, the report said.

Amazon also issues a company-wide hiring freeze prior to deciding to let employees go, the report added.

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