The holiday season is usually the time when retail-heavy groups like Amazon (AMZN) ramp up their staff to prepare for all the expected holiday shopping. But with the global economy in a slump heading into the 2022 holiday season, Amazon is instead preparing to cut most of its workforce. It is reportedly preparing to do so, one of the largest layoffs in the company’s history.
Details of upcoming layoffs at Amazon were recently shared by a source familiar with the matter, as reported by The New York Times. Amazon is reportedly downsizing its workforce, which has apparently surged since 2019. Amazon reportedly had approximately 798,000 employees at the end of 2019. With this in mind, the company will engage in its largest layoffs to date, including employees in its device organization, retail division, and human resources division. The layoffs will lay off less than 1% of all Amazon employees and about 3% of the company’s workforce. The final number of layoffs is also said to be in flux.
Amazon, like many other tech companies, has laid off a large number of employees this season. Most recently, Meta (formerly Facebook) underwent a major layoff, cutting about 11,000 employees from its workforce to cover the company’s major losses, particularly in virtual reality research and development. reduced. 2022. Twitter has also faced massive layoffs following Elon Musk taking over the platform for his $44 billion.
That said, Amazon’s massive layoffs heading into the holiday season are particularly notable in retail. Stay tuned for more updates and details on this story as we continue to follow along.