Dismissal at a place
Reports say that phased disbandment is taking place. Job cuts will be implemented on a team basis instead of firing everyone together.
The 10,000 people who will now lose their jobs will be about 3 percent of the company’s total corporate workforce. The layoffs now comprise less than 1 percent of the company’s global workforce of 1.5 million, mostly hourly workers.
Also Read: What to do if you lose your job? 5 things to keep in mind to face anything
It is estimated that the changing business model and the worrying global conditions are behind the company’s current decision to disband. There are also reports that the huge drop in demand post-Covid has also led to the layoffs. But so far, Amazon has not officially responded in this regard.
Big layoffs in the tech sector are a hot topic right now. Facebook’s parent company Metta announced last week that it would cut 11,000 jobs. Giant companies like Google, Apple and Microsoft have also come down the path of layoffs.
Consider avoiding property elsewhere
Amazon founder Jeff Bezos is unable to decide what to do with his property while tens of thousands of people have lost their livelihoods.
Also Read: Amazon; Third party e-commerce orders will now be taken
Jeff Bezos is the person who has been decorated with the first position in the list of the world’s richest people for a long time. He is a person who has a net worth of more than 124 billion dollars, i.e. more than 10 lakh crore rupees. Most of this amount will be waived, Bezos said in an interview granted to CNN yesterday. There are reports that $10 billion will be spent on climate change. Bezos said he would take the decision after consulting with his wife Lauren Sanchez.
Bezos still holds a 10% stake in the company despite stepping down as Amazon CEO in 2021. He is preparing to implement big projects in the field of space and media.
Read Latest Business News and Malayalam News