Amazon Layoffs : It must be said that there is currently a wave of layoffs going on in America’s Silicon Valley. Citing various reasons including financial problems and expenses, famous tech companies are actively laying off their employees.
While downsizing is nothing new in the private sector, a retrenchment is likely to upend the lives of many as the economy recovers slightly during the coronavirus pandemic. Now, it’s Elon Musk who started this layoff trend.
After buying Twitter for 44 million US dollars, all the actions he is taking in the company have been thundering in the heads of the employees. Initially, Elon Musk hired everyone with heavy workloads.
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Due to the heavy workload given by him, various employees have slept in the office without returning home at night and then resumed work there. However, he fired more than 50 percent of Twitter’s workforce within days.
A total of 7,000 people were employed in the company, 3,700 people were dismissed. Subsequently, in Musk’s next move, 4 thousand 400 contract workers are said to have lost their jobs.
In the days following Twitter’s move, Meta, the parent company of Facebook, WhatsApp and Instagram, shocked by laying off 11,000 people. This is the first time since the company’s inception in 2004 that the company has been laid off. The reason for the layoffs is said to be that Meta has suffered a huge loss in revenue for the company.
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In this case, it is said that the famous e-commerce company Amazon is also going to join this line. It is said that the company’s revenue has not been very profitable for the past few years, and it seems that it is going to take this retrenchment action to reduce its costs.
Also, the company is said to be laying off around 10,000 people within this week. This is likely to be the largest number of layoffs Amazon has ever undertaken.
Around 16 lakh people are working in this company worldwide, and it is said that 1 percent of them are going to be laid off. Amazon’s popular Alexa voice assistant, its retail division, and HR staff are said to be victims of the layoffs.
During the holidays, the revenue of the company will increase. However, it is said that most of its revenue has decreased this year. So, Amazon is said to have started this conversation a few days after the holidays. Amazon said that due to the increase in the prices of all items, the purchasing power of the consumers has decreased and therefore the business is not doing well. It is noteworthy that Amazon earned the highest revenue during the Corona period.
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