Amazon, Stitch Fix and Other Companies Laying Off Employees in 2023

2023 has just begun and several major retail companies have already announced job cuts as businesses rush to reduce costs. After months of post-pandemic gains, many companies that over-hired in 2021 and early 2022 are now trimming staff as inflation has hit many bottom lines. The additional concern of an impending recession is also not helping to calm fears, as companies look for a way forward. Here’s a running list of the major layoffs announced across the retail industry in 2023. Amazon Amazon amended its original November layoff announcement on Jan. 5, updating the total number of job cuts from 10,000 to 18,000. Amazon CEO Andy Jassy announced the staff reduction in a memo to employees and said the planning and review process for 2023 had been “more difficult given the uncertain economy” and the company’s rapid hiring over the last few years. The November reductions impacted the company’s Devices and Books businesses and included voluntary reduction offers for some employees in the People, Experience, and Technology (PXT) teams. The new layoffs will impact people in Amazon Stores and its PXT organization. Bed Bath and Beyond After issuing a dire warning about the future of its business and noting the potential for bankruptcy on Jan. 5,

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