The condition of the job market is not right. The way companies are firing people in the recent past, it is visible from that only. According to multiple media reports, after Meta and Twitter, shopping platform Amazon now plans to cut jobs for around 10,000 employees this week.
The New York Times reported on Monday, citing people with knowledge of the matter, that the company’s retrenchment could be called one of the biggest job cuts in history.
Focus on human resources
The company is said to be looking to focus on equipment organization, retail division and human resources. However, the exact number of job cuts is still unclear. Notably, Amazon posted tremendous gains when the pandemic was at its peak as consumers switched to online shopping and cloud computing services for companies.
However, earlier this year Amazon’s growth slowed to the lowest rate in two decades and the company faced higher costs from more investments and decisions to expand faster. According to the New York Times, high inflation affected the tech giant’s sales substantially.
Tech’s big company Amazon has increased its steps towards mass layoffs. Earlier, Twitter and Meta have also fired people to reduce their expenses. Facebook parent Meta announced the elimination of nearly 11,000 jobs on Wednesday as part of massive layoffs to cut expenses and transform its business model.
According to a news report, Amazon Inc is reviewing for cost-cutting. A report in the Wall Street Journal claims that Amazon has asked employees in some unprofitable units to seek jobs elsewhere in the company. The company is moving to redeploy employees from some teams to more profitable areas and closing teams in areas such as robotics and retail.
Alexa Business Evaluation
Amazon is evaluating its Alexa business and is currently considering whether new capabilities should be added to the technology. Adding the capabilities will require more investment, according to the report and many customers only use the device for certain tasks.
