amazon is reportedly laying off 18,000 employees. how many employees did amazon have prior to the layoffs?

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Amazon begins its largest

The layoff decision was announced earlier this month by Chief Executive Officer Andy Jassy. He in an internal note said that annual planning had been more difficult given the uncertain economy, and the company hired rapidly over the last several years.

News LATEST Corporate Amazon begins its largest-ever layoffs, 18,000 employees to be hit

Amazon begins its largest-ever layoffs, 18,000 employees to be hit

Amazon begins its largest-ever layoffs, 18,000 employees to be hit The layoff decision was announced earlier this month by Chief Executive Officer Andy Jassy. He in an internal note said that annual planning had been more difficult given the uncertain economy, and the company hired rapidly over the last several years.

Saurabh Sharma

Updated Jan 18, 2023, 11:16 PM IST

Amazon CEO said that the job cuts, about 6 per cent of the company's roughly 300,000 corporate employees, would mostly impact the e-commerce and human resources divisions.

Amazon Inc is set to begin its largest-ever layoffs in history with plans to let go 18,000 employees. The e-commerce giant will cut some jobs in the US, Canada, and Costa Rica by the end of Wednesday, the company said in a memo to staff seen by Reuters.

The layoff decision was announced earlier this month by Chief Executive Officer Andy Jassy. He in an internal note said that annual planning had been more difficult given the uncertain economy, and the company hired rapidly over the last several years.

The CEO said that the job cuts, about 6 per cent of the company's roughly 300,000 corporate employees, would mostly impact the e-commerce and human resources divisions.

Earlier today, tech giant Microsoft said it would cut about 10,000 jobs this year. In a letter to employees, Microsoft CEO Satya Nadella said the decision was difficult but necessary. "We are living through times of significant change."

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During the pandemic, Nadella said, customers accelerated their digital spending but they were now optimising their spending to do more with less.

Global financial institutions like World Bank and IMF have predicted recession this year, prompting the companies to restructure and take measures to cut costs.

In the US, growth is forecast to fall to 0.5 per cent in 2023—1.9 percentage points below previous forecasts and the weakest performance outside of official recessions since 1970.

The World Bank on January 10 said that given fragile economic conditions, any new adverse development - such as higher-than-expected inflation, abrupt rises in interest rates to contain it, a resurgence of the pandemic, or escalating geopolitical tensions - could push the global economy into recession in 2023.

Published on: Jan 18, 2023, 11:16 PM IST

Posted by: Saurabh Sharma, Jan 18, 2023, 11:11 PM IST

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Amazon confirms its massive layoffs will affect 18,000 employees

Amazon’s ongoing layoffs will affect 17,000 workers, according to a report from the Wall Street Journal. That’s significantly more than previously reported and may mostly affect corporate employees.

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Amazon confirms its massive layoffs will affect 18,000 employees

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Amazon confirms its massive layoffs will affect 18,000 employees In November 2022, The New York Times reported that Amazon planned to lay off about 10,000 employees, but that figure has grown.

By MITCHELL CLARK

Updated Jan 5, 2023, 1:25 AM UTC

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That’s a higher number than expected. Illustration by Alex Castro / The Verge

Amazon’s ongoing layoffs will affect around 18,000 workers, according to a memo from CEO Andy Jassy, which says that the “majority” of the roles being eliminated will be in Amazon Stores and People, Experience, and Technology organizations.

That’s significantly more than previously rumored — in November, The New York Times reported that the company was aiming to cut its workforce by around 10,000. In September 2022, the company said it had around 1.5 million employees in total.

Amazon will have laid off 18,000 people between the November cuts and the ones announced today

The news of the expanded layoffs was originally reported by The Wall Street Journal, which said that they would affect “over 17,000 workers.” Jassy’s email notes that the company will “typically wait to communicate about these outcomes until we can speak with the people who are directly impacted,” but that it was sharing the news because “one of our teammates leaked this information externally.” He also says that impacted workers would’ve started finding out on January 18th.

Over the past few months, Amazon admitted it was consolidating “some teams and programs” in its hardware and services division, as SVP Dave Limp put it in a November email. However, the company had never officially confirmed the original number. CEO Andy Jassy did tell workers that there would be “more role reductions as leaders continue to make adjustments” in 2023, but until now, the company’s been very vague about how many positions are being affected.

In October, Amazon announced that it had returned to double-digit sales growth, thanks to its “biggest Prime Day event ever” in July. It also promised investors that it was making “steady progress” toward cutting costs. On January 3rd, it reported to the SEC that it took out an $8 billion loan to be used for “general corporate purposes.” An unnamed spokesperson told TechCrunch that the company has been using “different financing options to support capital expenditures, debt repayments, acquisitions and working capital needs” as it navigates an “uncertain macroeconomic environment.”

The company says it’s “working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support.”

This makes Amazon’s reduction one of the largest from a tech giant yet. In the past few months, Meta announced that it was laying off around 11,000 employees, while companies like Intel have announced that they’re planning to make significant cuts throughout the year. Earlier on Wednesday, Salesforce said it would be cutting about 10 percent of its workforce, which translates to about 8,000 employees, while Vimeo said it would be laying off 11 percent of staff.

Update January 4th, 8:25PM ET: Updated with Andy Jassy’s statement confirming the number of employees being laid off and info about what teams are impacted.

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Amazon CEO says company will lay off more than 18,000 workers : NPR

The layoffs represent the single largest number of jobs cut at a technology company since the industry began aggressively downsizing last year.

Business

Amazon CEO says company will lay off more than 18,000 workers

January 4, 202311:14 PM ET

BOBBY ALLYN Twitter

Amazon on Wednesday announced it is planning to lay off more than 18,000 jobs amid a push to cut costs.

Mark Lennihan/AP

Amazon is laying off 18,000 employees, the tech giant said Wednesday, representing the single largest number of jobs cut at a technology company since the industry began aggressively downsizing last year.

In a blog post, Amazon CEO Andy Jassy wrote that the staff reductions were set off by the uncertain economy and the company's rapid hiring over the last several years.

The cuts will primarily hit the company's corporate workforce and will not affect hourly warehouse workers. In November, Amazon had reportedly been planning to lay off around 10,000 employees but on Wednesday, Jassy pegged the number of jobs to be shed by the company to be higher than that, as he put it, "just over 18,000."

Jassy tried to strike an optimistic note in the Wednesday blog post announcing the massive staff reduction, writing: "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so."

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While 18,000 is a large number of jobs, it's just a little more than 1% of the 1.5 million workers Amazon employees in warehouses and corporate offices.

Last year, Amazon was the latest Big Tech company to watch growth slow down from its pandemic-era tear, just as inflation being at a 40-year high crimped sales.

News of Amazon's cuts came the same day business software giant Salesforce announced its own round of layoffs, eliminating 10% of its workforce, or about 8,000 jobs.

Salesforce Co-CEO Mark Benioff attributed the scaling back to a now oft-repeated line in Silicon Valley: The pandemic's boom times made the company hire overzealously. And now that the there has been a pullback in corporate spending, the focus is on cutting costs.

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"As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing," Benioff wrote in a note to staff.

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Facebook owner Meta, as well as Twitter, Snap and Vimeo, have all announced major staff reductions in recent months, a remarkable reversal for an industry that has experienced gangbusters growth for more than a decade.

For Amazon, the pandemic was an enormous boon to its bottom line, with online sales skyrocketing as people avoided in-store shopping and the need for cloud storage exploded with more businesses and governments moving operations online. And that, in turn, led Amazon to go on a hiring spree, adding hundreds of thousands of jobs over the past several years.

The layoffs at Amazon were first reported on Tuesday by the Wall Street Journal.

CEO Jassy, in his blog post, acknowledged that while the company's hiring went too far, the company intends to help cushion the blow for laid off workers.

"We are working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support," Jassy said.

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