Amazon is now saying they are going to lay off as many as 10,000 workers, which is just awful.
Of course, the timing of the announcement is rather curious, given that it comes right after the midterms.
One might suspect that this announcement was delayed so as not to threaten the chances of Joe Biden and his party.
FOX Business reports:
Amazon plans to lay off 10K employees: report
Amazon reportedly plans to lay off 10,000 corporate and technology employees as soon as this week.
The cuts would affect the company’s devices organization, retail division and human resources, people familiar with the matter told the New York Times.
The move would mark the largest job cut in Amazon’s history, representing 3% of its corporate employees and 1% of its global workforce, according to the outlet.
Representatives for Amazon did not immediately respond to FOX Business’ request for comment.
The move comes just after Amazon CEO Andy Jassy began a cost-cutting review of the company, which included scaling down businesses that haven’t been profitable, such as its devices unit, people familiar with the matter told the Wall Street Journal.
Amazon had already warned employees in underperforming units to prepare to look for another job as the company makes cutbacks amid the uncertain economic environment, sources told the Journal.
Earlier this month, Amazon implemented a hiring freeze for corporate positions.
In a message to employees, Beth Galetti, Amazon’s senior vice president of people experience and technology, announced that the decision was made by Jassy and the leadership team due to the “uncertain” economy and in light of how many people Amazon has hired in recent years.
Nothing to see here.
— Rosie Memos (@almostjingo) November 14, 2022
Normally Amazon would be gearing up for Cyber Monday and the Christmas shopping season.
The fact that these layoffs are coming BEFORE the holidays is just about the biggest recession signal you will ever see. 🔥 pic.twitter.com/y45nL3TGN2
— Wall Street Silver (@WallStreetSilv) November 14, 2022
Things are going to get worse before they get better.