The e-commerce juggernaut will mainly slash jobs in its human resources, retail, and devices divisions, the people said. The devices division is responsible for products like the Alexa assistant. Layoffs could start as soon as this week, according to the Times.in 2022 as the US economy heads into increasingly uncertain territory.
After completing his buyout of Twitter, Elon Musk promptly laid off roughly half of the social media firm's 7,500 employees. Earlier in November, Meta, formerly known as Facebook, — 13% of its workforce. The fintech giant Stripe has laid off 14% of its staff, or about 1,100 people., citing an"unusual macro-economic environment." The company's impending cuts could be the largest in its history, per the Times. Ten thousand employees represents roughly 3% of Amazon's corporate workforce, the outlet said.
The US economy is in a strange and precarious place. The stock market is down this year, but unemployment is still low. Goods from cars to food are expensive due to high inflation, which the Federal Reserve is trying to calm by increasing interest rates and slowing spending. Many economists are convinced the country is— An earlier version of this story misstated the scale of Stripe's layoffs. About 1,100 jobs were affected.