Recently, Twitter caught flack for laying off half of its workforce (around 3,500 people) and Facebook 13% of its workforce (11,000).
Now, Amazon has announced plans to lay off 10,000 employees (around 3% of its corporate employees and less than 1% of its global workforce).
The layoffs are expected to start as soon as this week across corporate and technology jobs. The cuts are focused on Amazon’s devices organization, including voice assistant Alexa, retail division and human resources, anonymous sources told the New York Times this week.
Amazon’s layoff ahead of the holiday season, when they usually beef up their employees and hold steady to deal with the retail influx, shows how hard tech is being hit by recent economic uncertainty.
Amazon’s value boomed during the pandemic to its highest-ever rates, and they invested big on growing and experimenting – only to feel the crunch when people returned to pre-pandemic shopping habits against projections.