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2025-01-19 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >
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Shulou(Shulou.com)11/24 Report--
According to foreign media sources quoted by foreign media on November 15, retail giant Amazon plans to cut about 10,000 jobs as early as this week, which will be the largest layoff in the company's history.
The layoffs will be concentrated in Amazon's equipment division, including voice assistant Alexa, retail and human resources, according to people familiar with the matter. At present, the number of layoffs is still unstable and may be carried out on a team-by-team basis, rather than company-wide layoffs at the same time.
But if the number of layoffs is about 10,000, it will account for about 3% of Amazon's full-time employees, or even less than 1% of its global workforce.
Amazon reported 798000 employees at the end of 2019. However, as of December 31, 2021, the number of full-time and part-time employees was 1.6 million, an increase of 102%, but mainly part-time workers.
The holiday shopping season is crucial for Amazon, which typically increases its workforce this quarter to meet demand. The layoffs during the holiday shopping season are a sign that the deteriorating global economy is putting enormous pressure on Amazon to cut back on businesses that have been overstaffed or underdelivered for years.
Amazon will be the latest technology company to be forced to lay off staff, and until recently it was trying to retain employees. The ecommerce giant more than doubled the cap on cash pay for its tech workers this year, citing "particularly competitive labour market".
Changing business models and an unstable economy have triggered massive layoffs across the technology industry. Elon Elon Musk cut the company's workforce by 80 per cent this month after buying Twitter. Last week, Meta, the parent company of Facebook, announced that it would cut 11000 jobs, or about 13% of its workforce. In recent months, technology companies such as Lyft, Strip and Snap have also laid off staff one after another.
The COVID-19 epidemic created the most profitable era in Amazon's history, with consumers flocking to online shopping and companies using Amazon's cloud computing services. Amazon doubled its workforce in two years and reinvested profits in expansion and experimentation in search of "the next big thing".
But earlier this year, Amazon's revenue growth slowed to its slowest pace in 20 years as the epidemic accelerated. The company faces high cost pressures due to overinvestment and rapid expansion, while changes in consumer shopping habits and high inflation have undermined its sales.
Amazon's performance rebounded slightly in the third quarter of this year. But the company warned investors that growth could weaken again and could fall to its lowest level since 2001.
Amazon said it had "tightened its belt" in the past and was likely to do so again. Amazon cut 1500 jobs, including hourly workers, during the bursting of the dotcom bubble in 2001, accounting for 15 per cent of its workforce at the time. After another period of rapid expansion, the company laid off hundreds of full-time employees in early 2018.
Just as Amazon's share price fell to its lowest level since the start of the epidemic last week, executives met with institutional investors to reassure them, according to three people familiar with the matter. Since Andy Andy Jassy took over as chief executive last year, Amazon has lost $1, 000bn of market value.
Jassi, who was previously in charge of Amazon's lucrative cloud computing business, has been keeping a close eye on the company's development to cut costs quickly. Initially, he withdrew plans for warehouse expansion that had been overexpanded during the outbreak, and then gradually expanded to other parts of the company.
In recent months, Amazon has also closed or scaled back some projects, including Amazon Care, which provides primary and emergency medical services but failed to find enough customers, the delivery robot Scout program and Fabric.com, a subsidiary that has sold sewing supplies for 30 years. From April to September, Amazon has laid off nearly 80,000 jobs, mainly through natural wastage.
Amazon froze hiring for several smaller teams in September. In October, the company stopped filling more than 10, 000 vacancies in its core retail business. Two weeks ago, Amazon announced that it would freeze hiring across the company, including its cloud computing division, in the coming months. It is reported that the news came so suddenly that recruiters did not receive an improved interview guide for job seekers until recently.
John Blackledge, an Cowen&Company analyst who has studied Amazon for a decade, says his calculations show that Amazon's core e-commerce business has lost billions of dollars this year. "they need to conduct a deep self-examination, and the current model is not sustainable," he said. "
Amazon's equipment division has long faced the risk of layoffs. As Amazon strives to build a leading voice assistant, Alexa and related devices quickly become the company's top priority. Amazon's leadership believes that voice assistants may replace mobile phones as the next essential consumer interface.
From 2017 to 2018, Amazon doubled its Alexa and smart speaker Echo team to 10, 000 engineers. The company has sold hundreds of millions of Alexa-enabled devices. But Amazon says profit margins on these products tend to be low and other potential sources of revenue, such as voice shopping, have not yet become popular.
Echo and Alexa lost about $5 billion in 2018, according to people familiar with the matter. When Amazon launched new devices at its launch event this fall, it was significantly more restrained than it had been in the past few years. In the past, Amazon has launched a number of funny products, such as post-it printers and household robots that sell for $1000.
Amazon's retail business, which includes physical and online retail as well as logistics, has been under intense pressure after a surge in demand and rapid expansion during the epidemic. The company has withdrawn its expansion plans and told investors it sees uncertainty in the consumer sector.
"We have recognized the reality that people's wallets are being dragged down by a variety of factors," Brian Olsavsky, Amazon's chief financial officer, told investors last month. The company is not sure where consumer spending is going, but "we are ready for a variety of outcomes," he said.
Amazon reported disappointing third-quarter results in October, causing panic among investors and sending its shares down more than 13 per cent. This marks the first time Amazon's market capitalization has fallen below $1 trillion since April 2020. The sell-off in Amazon shares lasted for several days after the results were released, wiping out almost all the gains during the outbreak.
Amazon shares are down about 41% so far this year, surpassing the 14% decline in the s & p 500 and could be the worst year since 2008.
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