Tech giant Amazon is planning to sack as many as 10,000 employees in corporate and technology, starting this week, New York Times reported quoting sources privy to the development. If the company moves as planned with the lay-offs, this would become the largest job cut in Amazon’s history.
According to the report, these job cuts will affect the tech company’s devices wing, including its voice-assistant Alexa, along with the human resources division and retail.
Although the total number of jobs that will be cut has not been finalised, it would be roughly around 10,000, which would account for three percent of Amazon’s corporate employees and below one percent of its 1.5 million global workforce.
Also read: Twitter, Meta, Disney on sacking spree: How global tech layoffs are impacting Indians
The company’s retrenchment plan comes ahead of the holiday shopping season, proving how fast the worsening global economic scenario pressured it to cut corners. More interestingly, the e-commerce giant had recently, citing “a particularly competitive labour market”, more than doubled the cap on the cash compensation for its tech employees.
Amazon, would, however, not be the only technology company to trim its workforce. Soon after his takeover of Twitter earlier this month, Elon Musk halved the social media firm’s head count. Facebook parent Meta announced last week that it is sacking 11,000 employees, accounting for nearly 13 percent of its workforce. Among other tech firms that laid off workers recently are Lyft, Stripe, and Snap.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
