Amazon ‘cuts 10,000 jobs’ after forecast slowing growth Business News

Amazon will reportedly lay off about 10,000 employees as early as this week.

According to The New York Times, the company’s corporate and technology divisions will lose those jobs.

The company’s devices division, which makes the Alexa voice assistant, is laying off workers; its human resources and retail divisions.

It is estimated that 10,000 employees will be laid off globally, although the company has not released specific figures. This figure will account for about 3% Amazonof corporate employees, or 1% of the total workforce of 1.5 million.

The number of employees affected in the UK is not yet known. in July, Amazon announces it will create more than 4,000 new permanent jobs in the UK this year.

Last month, the world’s largest online retailer forecast relative Weak growth The next three months are usually the busiest time for Christmas.

The sluggish forecast comes at the same time as operating expenses are rising. Those costs amounted to $355.3bn (£308bn) in the nine months to the end of September this year, up from $311bn (£269.7bn) in the same period last year.

Shares subsequently fell nearly 20% as inflation and interest rate costs threatened profits.

The company will become one of the world’s largest tech companies with numerous layoffs.

Microsoft admits to ‘structural adjustment’ Cut about 1,000 jobs last month.

Meta, owner of WhatsApp, Instagram and Facebook, announced last week that it would cut its global workforce More than 11,000 employees as part of a business restructuring to slash costs but maintain a controversial investment in virtual worlds.

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