Amazon Plans to lay off about 10,000 employees, says reports

BUSINESS

Amazon Inc., plans to lay off around 10,000 employees, and it would be the largest reduction in the history of the company, according to reports. The mass layoffs can begin as soon as this week, and they will focus on the device organization of Amazon, the retail division, and human resources.

Amazon did not confirm the layoffs immediately, and the reported layoffs would possibly affect around 3 percent of the corporate employees of Amazon and less than 1 percent of its global workforce. Amazon has more than 1.5 million workers across the world. According to the reports, Amazon had lost 45 percent of its value last year, from 1.6 trillion dollars, as had other companies, including Microsoft and Apple.

Amazon has recently announced millions of deals that will be available for the company’s Black Friday event, and the net sales of the company have increased by over 15 percent compared with 2021, but the operating income has decreased to 2.5 billion dollars in compared with 4.9 billion dollars operating income in the same period last year.

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Amazon will freeze corporate hiring in its retail business for the rest of the year, but Amazon has plans to hire around 150,000 people across its operation network in the United States to help deliver for customers during the holiday season.