Report: Amazon Could Be Readying to Lay Off 10,000 Workers

Amazon is planning to lay off approximately 10,000 employees in corporate and technology roles beginning this week, according to a report from The New York Times on Monday. According to the report, these cuts would be the largest in the company’s history, and would primarily impact Amazon’s devices organization, retail division and human resources. The reported layoffs would represent less than 1% of Amazon’s global workforce of over 1 million and 3% of its corporate employees. FN has reached out to Amazon for confirmation. Shares for the retailer were down 1.32% in mid-day trading on Monday following the report. This move comes as the e-commerce giant posted lower than expected earnings in the third quarter last month. The Seattle-based retailer reported net sales in Q3 increased 15% to $127.1 billion in the third quarter, compared with $110.8 billion in third quarter 2021. This is lower than the expected amount of $127.46 billion. “There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets,” Amazon CEO Andy Jassy said at the time of the earnings report. “What won’t change is our maniacal focus on the customer experience, and we feel

Follow Footwear News on Twitter or become a fan on Facebook.

from Footwear NewsFootwear News https://ift.tt/6lSKnwb