The CEO says Amazon’s layoffs will continue into the next year

Amazon CEO Andy Jassy said in a new note Thursday that Amazon’s hairstyles will continue into the new year.

The announcement comes a day after the tech company began laying off workers on its devices team, which focuses on products like voice-activated Alexa, according to a note from Dave Limp, senior vice president of Devices and Services.

“This year’s review is made more difficult by the fact that the economy is still in trouble and we’ve hired quickly the last several years,” Jassy said Thursday.

Jassy said decisions about Amazon’s last role cuts will be shared in early 2023. He said it’s not yet certain how many jobs will be affected, though the cuts will affect Amazon Stores, People Experience and Technology Solutions, he said.

The move adds the company to a list of major tech companies that have forced job cuts in recent weeks, including Facebook subsidiary Meta and Twitter.

Limp’s memo didn’t provide details on the size of the layoffs, but the job losses arrive at a time when the company typically expands its workforce during the busy holiday season.

“We continue to face an unusual and uncertain macroeconomic environment,” Limp’s note said. “After a deep set of reviews, we recently decided to merge some of the teams and programs.”

“In cases where employees are unable to find a new role within the company, we will support transition with a package that includes severance payments, transitional benefits and external placement support,” the memo added.

The layoffs come on the heels of deep job cuts at other big tech companies, as industry giants roll back record sales achieved during the pandemic, when billions around the world were forced into isolation. Customers stuck at home have come to rely on delivery services such as e-commerce and virtual connections shaped through social media and video conferencing.

However, persistent fears of an economic recession, rising interest rates, and a shift to a pre-pandemic lifestyle have led to the collapse of the tech sector.

Andy Jassy, ​​CEO of Amazon.Com Inc. , during the Bloomberg Technology Summit in San Francisco, June 8, 2022.

David Paul Morris/Bloomberg via Getty Images

Under new owner Elon Musk, Twitter has laid off nearly half of its 7,500-strong workforce, citing losses of about $4 million per day.

Days later, Meta announced that it would cut about 11,000 employees, approximately 13% of its workforce. The company reported its second consecutive quarter of declining sales last month.

Lyft, Netflix, Coinbase, Salesforce, Microsoft, and Snap are among the slew of other tech companies that have laid off workers this year.

Photo: The Amazon logo appears at the entrance to Amazon's Shannon Building in Dublin.

The Amazon logo appears at the entrance to Amazon’s Shannon Building in Dublin.

Photo by Artur Widak/NurPhoto via Getty Images

The tech-heavy Nasdaq is down more than 25% in 2022. Shares in Amazon are down 18% this year.

Amazon’s third-quarter earnings last month fell short of analyst expectations for revenue, sending the stock down 13% in extended trading on the day of the announcement.

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