Tag: amazon market value

Amazon to layoff 10,000 employees: report
15Nov By adminNo Comments
Technology

Amazon to layoff 10,000 employees: report

[ad_1] Amazon is preparing to lay off as many as 10,000 employees, making the e-commerce behemoth the latest tech giant to unleash a large-scale redundancy plan. Amazon is preparing to lay off as many as 10,000 employees, The New York Times reported on Monday, making the e-commerce behemoth the latest tech giant to unleash a large-scale redundancy plan.This would represent a little less than one percent of the group's total payroll, which had 1.54 million employees worldwide at the end of September, not counting seasonal workers who are recruited during periods of increased activity like the Christmas holidays. The Times report said the affected positions will be located in Amazon's devices department, the retail division and human resources. The distribution by country was not specif...
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Amazon layoffs coming! 10000 employees to be sacked- source
15Nov By adminNo Comments
Technology

Amazon layoffs coming! 10000 employees to be sacked- source

[ad_1] Amazon.com Inc is planning to lay off around 10000 employees in corporate and technology roles beginning this week. Amazon.com Inc is planning to lay off around 10000 employees in corporate and technology roles beginning this week, a person familiar with the matter said on Monday, in what would amount to its biggest such reduction to date.The Amazon job cuts, earlier reported by the New York Times, would represent about 3% of Amazon's corporate staff. The exact number may vary as businesses within Amazon review their priorities, the source told Reuters. The online retailer plans to eliminate jobs in its devices organization, which makes voice-controlled "Alexa" gadgets and home-security cameras, as well as in its human-resources and retail divisions, the person said. Amazon's t...
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Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value
10Nov By adminNo Comments
Technology

Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value

[ad_1] Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value. Amazon.com Inc. is the world's first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in the stock this year. Shares in the e-commerce and cloud company fell 4.3% on Wednesday, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak. While technology and growth stocks have been punished throughout the year, ...
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Amazon Closes Below $1 Trillion in Market Value for First Time Since 2020
2Nov By adminNo Comments
Technology

Amazon Closes Below $1 Trillion in Market Value for First Time Since 2020

[ad_1] Amazon.com closed below the $1 trillion mark in market value for the first time since the early days of the Covid-19 pandemic . Amazon.com Inc. shares fell on Tuesday, with the e-commerce and cloud-computing company closing below $1 trillion in market value for the first time since the early days of the Covid-19 pandemic more than two years ago. The stock fell 5.5% to end at $96.79, representing a market capitalization of $987.4 billion. Shares closed at their lowest level since April 2020, and have dropped 42% this year. At its Nov. 18 peak, Amazon boasted a market cap of nearly $1.9 trillion. It was the fifth straight negative session for Amazon -- down about 20% over the period. Meanwhile, the Nasdaq 100 Index fell 1% on Tuesday. Recent weakness was spurred by the Sea...
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