AMAZON EMPLOYEES WERE LAID OFF AS TECH TITANS CUT COSTS

  • 16/11/2022

According to LinkedIn posts by employees who have been affected by job cuts, technology giant Amazon has begun laying off employees.

It was reported earlier this week that the company plans to cut 10,000 jobs, or roughly 3% of its office staff.

It comes as thousands of jobs are lost across the technology industry as firms' sales slow amid growing fears of an economic downturn. 

One employee, who said that she worked as a software development engineer in the US, posted that she was looking for a new job: "Due to the nature of my visa, I have a limited time to lookout for new work opportunities."

Another Amazon worker who said they had been impacted by the layoffs said: "Of course I am saddened, yet optimistic about the future because I know this means good change for me and others on my team."

The business warned it had overhired during the pandemic and had already implemented a hiring freeze and stopped some of its warehouse expansions.

Additionally, it had stopped working on projects like a robot that would deliver packages personally.

Jeff Bezos, the founder and CEO of Amazon, issued a warning last month, stating that the US economy was telling people to "batten down the hatches."

Amazon is struggling with a slowdown in online sales, which has caused its share price to drop by more than 40% this year.

As a cost-cutting measure, other significant technology companies have already disclosed significant layoffs.

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