Multinational technology company Amazon has decided to lay off more than eighteen thousand employees.
According to international media reports, Amazon has decided to lay off a large number of employees to reduce the company’s costs.
According to the report, most of the layoffs will be from the company’s e-commerce and human resources departments, which Amazon will announce on January 18.
According to a report by the British Broadcasting Corporation, 6% of the company’s approximately 3 lakh corporate employees will be laid off, which is a major blow to the company’s business.
It should be noted that Amazon is the second largest private company in the US, after Wal-Mart Inc., with a total of approximately 1.5 million employees.
Company CEO Andy Jessee claimed in his message that the volatile economy and increased hiring over the past few years have made this year’s annual planning more difficult.
Amazon is poised to slow its growth rate slightly after its stock price fell as rising inflation forced both businesses and consumers to cut spending.