Redundancies seem to be the new normal in the tech world, with Twitter, Meta, Snapchat, Stripe, Salesforce, Microsoft, Zillow, and Robinhood all doing so in recent months. According to the New York Times, Amazon appears to be following suit and plans to lay off nearly 10,000 employees by the end of this week.
Redundancies seem to be the new normal in the tech world, with Twitter, Meta, Snapchat, Stripe, Salesforce, Microsoft, Zillow, and Robinhood all doing so in recent months. According to the New York Times, Amazon appears to be following suit and plans to lay off nearly 10,000 employees by the end of this week.
The lustre of the tech industry, which was a respected source of thriving stocks and plush, high-paying jobs, has faded, and the axe has fallen as a result of the hiring of large numbers of employees during the pandemic, which eventually faded, or through broader economic turmoil, which has made brands more reluctant to spend money on digital ads, a source of income for many tech companies.
After years of explosive growth, the technology sector, a darling of investors, is on shaky ground, with the latest wave of layoffs coming after months of warning signs, such as tech start-ups having a harder time raising capital.
According to the report, which quotes sources with knowledge of the matter, the job cuts, which would represent only a small fraction of Amazon’s 1.5 million employees, will cover both technology and corporate positions, and will focus on the company’s workforce, according to a person familiar with the plans who spoke on condition of anonymity to discuss private business matters.
Amazon has refused to comment on the report, but earlier this month it announced a sweeping hiring freeze on its employees that was expected to last at least the next few months.
The sources for this piece include an article in ComputerWorld.
