The biggest technology company in the world, Amazon, is now going through a period of significant layoffs. The largest layoff in history will have an impact on thousands of employees and their families. On the internet and social media, there are many responses to this from all around the world.
Similar to other internet and social media conglomerates, the online retail giant made significant revenues during the COVID-19 pandemic as homebound buyers increased their online shopping. But when the pandemic's worst symptoms subsided and customers turned less and less to online shopping, the revenue rate dropped.
The Seattle-based corporation posted two losses in a row this year, mostly due to write-downs of the value of its stock investment in Rivian Automotive, a start-up producing electric vehicles. Investors were pessimistic about the company's weaker-than-expected revenue and bleak forecasts for the upcoming quarter even though it returned to profitability during the third quarter.
Employee layoffs at Amazon's devices division started on Wednesday, hardware leader Dave Limp said in a note. After conducting a thorough analysis of the company, the e-commerce behemoth said that it is combining several teams and initiatives inside its devices arm.
The Momo did not give any information on the number of layoffs, but the job losses occur just before the busy festive season when the Momo often adds more staff.
According to a source article, Amazon intends to fire up to 10,000 workers overall, largely from its device, retail, and human resources divisions. The corporation would make the biggest cutbacks ever. As of December 31st, Amazon employed more than 1.6 million people on a full- and part-time basis.
The Momo did not give any information on the number of layoffs, but the job losses occur just before the busy Festive season, when the Momo often adds more staff.
The workers at Amazon, who had been expecting for any communication from the senior executives of the corporation, were furious and confused when the company started the greatest layoffs in its history on Tuesday.
Amazon started informing its staff members about layoffs. Several individuals who were fired by Amazon have posted their firing experiences on social media. The majority of the fired members worked for the company's cloud gaming and Alexa departments.
Employees will assist the transition with a package that includes a separation payout, transitional benefits, and outside job placement assistance in situations where they are unable to find a new position within the firm, the message continued. Given that it is difficult to decide who should be let go, this will be extremely stressful for both the employees and the organization as a whole. However, because the layoff is occurring during festival season, employees are really worried.
Both large and medium software organizations have lately laid off thousands of employees. The parent company of Facebook, Meta, said this week that it has made the largest-ever reductions in staff, firing 11,000 people. Twitter, now owned by Elon Musk, has also let go of half of its 7500-person workforce.