Tag: amazon shares

Amazon Kicks Off Round of Job Cuts Affecting 18,000 People
19Jan By adminNo Comments
Technology

Amazon Kicks Off Round of Job Cuts Affecting 18,000 People

[ad_1] Amazon.com Inc.  has started its biggest-ever round of jobs cuts  — a culling that will ultimately affect 18,000 workers around the globe. Amazon.com Inc. has started its biggest-ever round of jobs cuts — a culling that will ultimately affect 18,000 workers around the globe. Amazon began notifying employees by email early Wednesday, Doug Herrington, the company's worldwide retail chief, said in a memo. He said the company aimed to communicate with all laid-off workers in the US, Canada and Costa Rica by the end of the day. Notifications in China will be sent after the Chinese New Year, and in other regions the company must consult with employee representatives before finalizing layoffs. The world's largest e-commerce company is grappling with slowing online sales growth an...
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Amazon to cut 18,000 jobs as layoffs expand in tech sector
6Jan By adminNo Comments
Technology

Amazon to cut 18,000 jobs as layoffs expand in tech sector

[ad_1] Amazon.com Inc's layoffs will now include more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company's e-commerce and human resources organizations, he said. The cuts amount to 6% of Amazon's roughly 300,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent. They also show how layoffs continue to shake the technology sector. Amazon's layoffs now surpass the 11,000 cuts announced last year by Facebook parent Meta Platforms Inc, underscoring the retailer's slide from an essential busi...
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End of Amazon? Amazon Is Ubiquitous. But It Isn’t Invincible Anymore
19Dec By adminNo Comments
Technology

End of Amazon? Amazon Is Ubiquitous. But It Isn’t Invincible Anymore

[ad_1] The firm has written the rules of modern retail. After a disappointing year, it may not be able to keep winning at its own game. Amazon.com Inc.'s founder has long been obsessed with the company's beginning — and its end.In 2013, Jeff Bezos told 60 Minutes that companies have short life spans, “even the shiniest and most important of any era.” In his final letter to shareholders as CEO in 2021, with Amazon valued at more than $1.5 trillion, he quoted a book by evolutionary biologist Richard Dawkins to suggest that the e-commerce giant is in a constant state of “staving off death.” The idea seemed absurd in the middle of the pandemic. Amazon's online sales had exploded as people avoided stores. Restless consumers, buoyed by stimulus payments, were on a shopping spree. Between 20...
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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 Shares Plunge on Forecast for Sluggish Holiday Sales
28Oct By adminNo Comments
Technology

Amazon Shares Plunge on Forecast for Sluggish Holiday Sales

[ad_1] Amazon.com Inc., shocking Wall Street, projected the slowest holiday-quarter growth in the company’s history. The shares plunged about 14% in premarket trading. Amazon.com Inc., shocking Wall Street, projected the slowest holiday-quarter growth in the company's history. The shares plunged about 14% in premarket trading.The Seattle-based company, which reaped record profits during the pandemic, said sales during the current period will rise just 2% to 8% as shoppers reduce their spending in the face of economic uncertainty. Either figure would be the slowest increase ever for Amazon's “Peak” season, which usually finds warehouse employees rushing to get orders out on time. And the e-commerce giant's other businesses aren't riding to the rescue. Amazon Web Services, the cloud-com...
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Alphabet, Microsoft Lead Bear-Market Earnings Season
25Oct By adminNo Comments
Technology

Alphabet, Microsoft Lead Bear-Market Earnings Season

[ad_1] Investors are facing a make-or-break week for some of Wall Street’s most influential tech stocks in a historic year for the group marked by a plunge into bear market territory. Investors are facing a make-or-break week for some of Wall Street's most influential tech stocks in a historic year for the group marked by a plunge into bear market territory. The superlatives have followed one after another in 2022's wild ride. Shares of Meta Platforms Inc. have lost 61%, their biggest drop since the company went public a decade ago. Apple Inc., Alphabet Inc., Amazon.com Inc. and Microsoft Corp. are set for their steepest declines since the global financial crisis. Now, these companies are slated to report quarterly results this week with projections showing a profit decline by th...
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