According to the Wall Street Journal, an American multinational technology company, Amazon is laying off more than 17,000 employees, which is 70% more employees than previously planned.
However, The job cuts that began last year were expected that it will affect nearly about 10,000 people. The reduction is concentrated in the firm’s corporate ranks.
The company already froze hiring in September 2022. In October, the company stopped hiring for more than 10,000 open roles in its core retail business.
Amazon also stopped corporate hiring across. The company from April- September reduced its headcount by almost 80,000 people. The company employs more than 1.5 million employees globally, which includes hourly staff as of September meaning the latest cuts would represent about 1% of the workforce. Recently, the company also shut down its three businesses in India.
Earlier, Amazon was also shutting down its wholesale distribution business, followed by shutting down its food-delivery business and the Amazon Academy platform was a platform that provided coaching for competitive exams including Joint Entrance Examination (JEE), which allows entry into top engineering colleges across India.
The company is currently working on cost-cutting measures amid the economic slowdown. Earlier, Amazon delayed the joining dates for some university graduates until the end of 2023 due to cost-cutting efforts.
The onboarding of the employees was expected to be completed by May 2022. However, the company didn’t reveal the exact number of employees affected due to the delay in the onboarding.
According to the report, the employees affected by the delay are receiving a one-time payment of $13,000 (roughly Rs 10 lakh) regardless of whether they decide to still join the company.