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Amazon is planning another 9000 layoffs

Amazon.com Inc announced another 9,000 job cuts on Monday, adding to a wave of layoffs that has swept the technology sector as an uncertain economy forces companies to become leaner.

In a remarkable turn for a company that has long touted its job creation, Amazon will have eliminated 27,000 positions in recent months, or 9% of its roughly 300,000-strong corporate workforce.

The most recent cuts target Amazon’s highly profitable cloud and advertising divisions, which were once thought to be untouchable until economic concerns caused business customers to scrutinise their spending.

The wording is a little different, but the wording is the same. Dan Clancy, who was named as CEO of Twitch last week, said the platform will lay off more than 400 employees.

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Amazon aims to finalise whom it will terminate in the new round of job cuts by April.

Amazon
credit: reuters

The decision comes on the heels of a near-constant stream of layoff news in the technology sector, which has seen some of the world’s most valuable corporations, including Microsoft Corp and Alphabet Inc, sever ties with staggering numbers of employees they once courted in droves.

Amazon CEO Andy Jassy stated in a note to employees posted online that the decision was based on an ongoing analysis of priorities and economic uncertainty.

“Some may ask why we didn’t announce these role reductions with the ones we announced a couple months ago,” he wrote. “The short answer is that not all of the teams were done with their analyses in the late fall. Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount.”

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Amazon said last month that operating profit could fall further in the current quarter, owing to the financial impact of consumers and cloud customers cutting back on spending. In recent months, the company has reduced or discontinued entire services, such as its virtual primary care offering for employers.

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Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.
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