Amazon ‘lays off 10,000 jobs’ after forecasting slower growth | Business News

According to reports, Amazon will lay off about 10,000 employees as early as this week.

Those jobs will be lost in the company’s corporate and technology divisions, according to The New York Times.

The company’s devices division, which makes the Alexa voice assistant, is cutting jobs; human resources and retail.

It is estimated that 10,000 employees will be cut globally, but the company has not released specific figures. This figure will represent approximately 3% amazonof the company’s employees, or 1% of the total workforce of 1.5 million.

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

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

The downbeat forecast comes alongside higher operating expenses. These costs amounted to $355.3bn (£308bn) in the nine months to the end of September, up from $311bn (£269.7bn) in the same period last year.

Shares subsequently fell nearly 20 percent as inflation and interest rate costs threatened to eat into profits.

The company will be one of the world’s largest tech companies to cut jobs.

Microsoft acknowledges ‘structural adjustments’ About 1,000 layoffs last month.

Meta, the owner of WhatsApp, Instagram and Facebook, announced last week that it will cut its global workforce More than 11,000 staff were cut as part of a business restructuring to slash costs but maintain a controversial investment in the metaverse.

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