.png)
This week Amazon announced that approximately 10,000 Corporate and technology jobs will be cut. This historic layoff would be a first for Amazon. The lay off's would follow a wave of similar size companies preparing for the possibility of recession-level job cuts. Amazon employees identifying under anonymity said the cuts will be in the voice-assistant Alexa department, the HR department as well as the Retail division.
Amazon would be firing some 3% of Amazon's corporate employees. This 3% of firing would represent 1% of Amazon's 1.5 million global workforce. The 1.5 global workforce is primarily hourly workers.
Amazon's firing of more than 10,000 is a reflection of the tech market and larger tech market. Just last week Meta the parent company of Facebook and
Instagram announced that it was going to be laying off some 11,000 employees which equate to about 13% of Meta's workforce. Lyft the popular ride-hailing company announced Thursday of last week that it was planning to lay off 13% of its workforce because they wish to cut down on operating expenses. Lyft believes that the change will help to streamline their system and allow for the delivery of better service and overall better quarter 4 performance. Another company that is seeing double-digit layoffs is the popular online payment giant Stripe. Stripe announced last Thursday that it was planning to cut 14% of its staff. The layoffs will heavily be focused on the Stripes recruiting division in the hope of reshaping the company to better fit the times.
As economic strife continues around the world as the price of technology also remains high, more and more tech companies are making cuts to save as much money as possible. This downward trend in tech is becoming more apparent as the prices rise for tech-related products, and companies are making less and less profit. Tech companies are also suffering from many other issues such as supercomputer Chip shortages, talent management, and finding the right employees. Major tech companies are also suffering from major cyberwar threats and more and more malware and ransomware attacks are being carried out.
As Amazon and other major tech companies try to navigate the ever-changing economy it will be interesting to see if the companies are able to handle the pressures and threats to their profit margins, or will the poor condition of the economy force companies both tech and other to make more cuts.
Jarin Clapp
Editor and writer with Poudre Press, Operation Copper Rain news
Mission Statement
Operation Copper Rain started with a dream of making news that was real-time, unbiased news, that could be easily accessed by readers all over the world. With an ongoing mission to uncover facts and find trusted resources, Operation Copper Rain is committed to providing the global population with the latest updates and thought-provoking news.
Bibliography
Annierpalmer. "Stripe Lays off 14% of Workers." CNBC. November 04, 2022. https://www.cnbc.com/2022/11/03/stripe-plans-to-lay-off-14percent-of-workers.html.
Lyft, Inc. "Drive with Lyft – Become a Driver." Lyft. https://www.lyft.com/drive-with-lyft.
SAVAGE, ARTHUR DEKKER. "DP." Amazon. 2016. https://www.amazon.com/dp/B004LLIKVU.
Weise, Karen. "Amazon Is Said to Plan to Lay Off Thousands of Employees." The New York Times. November 14, 2022. https://www.nytimes.com/2022/11/14/technology/amazon-layoffs.html.