Increasing scrutiny could stall rise of ecommerce platforms, as TikTok faces US ban
The Loadstar has launched a series of reports on the ecommerce sector, which has been driving growth ...
THE WALL STREET JOURNAL reports:
Amazon. AMZN -0.79% com Inc.’s layoffs will affect more than 18,000 employees, the highest reduction tally revealed in the past year at a major technology company as the industry pares back amid economic uncertainty.
The layoffs are concentrated in the company’s corporate ranks and represent roughly 5% of that element of its workforce, and 1.2% of its overall tally of 1.5 million employees as of September.
The Seattle-based company in November said that it was beginning layoffs, with the cuts concentrated in 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 18,000 and will be made over the coming weeks.
On Wednesday, after the Journal broke the news about the size of Amazon’s AMZN -0.79%layoffs, Chief Executive Andy Jassy addressed the cuts in a blog post. “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” said Mr. Jassy. He added that the majority of the cuts are on the retail and recruiting areas of Amazon. The blog post said the company would alert affected employees later this month.
Amazon was one of the biggest beneficiaries of the Covid-19 pandemic as customers flocked to online shopping. The rush to Amazon’s various businesses, from e-commerce to groceries and cloud computing, pushed forward years of growth for the company. To keep up with demand, Amazon doubled its logistics network and added hundreds of thousands of employees…
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