Amazon to Remove 18,000 Employees as More Tech Companies cut Jobs in the US

As it struggles to cut costs, Amazon intends to eliminate more than 18,000 jobs, the most in the company’s history. Although Amazon stated that Europe would be affected by the layoffs, the online giant, which has 1.5 million employees worldwide, did not specify which nations would be affected. Amazon’s human resources division and consumer retail business will account for the majority of the layoffs.

The head of Amazon, Andy Jassy, claimed that the company had hired quickly over several years and blamed the cuts on the uncertain economy. They don’t take these decisions lightly or underestimate how much they could impact the lives of those they affect. Andy Jassy added that the announcement had been delayed because one of the company’s employees had leaked the cuts to the outside, and long-term businesses go through different phases. They don’t always go through a period of rapid population growth.

Andy Jassy says that they can’t talk about it, even to each other, and it’s obvious that he wants to keep my job. However, they were aware that the UK currently has a number of open positions, and if this one was eliminated, they would simply apply for another.

As a result of customers spending a lot of money online during the pandemic, Amazon’s business has experienced a decline in sales. Tech companies are being severely impacted by a combination of a decline in advertising revenues brought on by businesses trying to save money and consumers spending less as the cost-of-living crisis worsens.

GlobalData Retail managing director and retail analyst Neil Saunders tweeted that Amazon’s job cuts were significant, but that the company had hired about 743,000 more people since 2019, some of whom were motivated by irrational exuberance during the pandemic.