Amazon Dismisses Thousands Of Employees In Bid To Reduce Costs | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ben Zeisloft.

    Amazon unveiled a round of dismissals as the e-commerce behemoth reduces costs in response to persistent economic headwinds.

    Andy Jassy, who succeeded Amazon founder Jeff Bezos as chief executive two years ago, said in a message to staff that the layoffs would primarily be concentrated in retail and human resources divisions. The move follows dismissals in the company's devices and books units at the end of last year and brings the total headcount reduction to some 18,000 employees.

    "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," Jassy wrote. "These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I'm also optimistic that we'll be inventive, resourceful, and scrappy in this time when we're not hiring expansively and eliminating some roles."

    The reductions in payroll occurred after Amazon Senior Vice President of People Experience and Technology Beth Galetti informed employees last year that the company would institute a freeze on incremental hires in the corporate workforce.

    "We anticipate keeping this pause in place for the next few months, and will continue to monitor what we're seeing in the economy and the business to adjust as we think makes sense," she remarked at the time.

    Employees impacted by the layoffs will receive "a separation payment, transitional health insurance benefits, and external job placement support," according to Jassy. Share prices for Amazon fell 1% on Thursday; the announcement had previously been leaked by an employee and published in a report for the Wall Street Journal.

    The dismissals will impact roughly 5% of corporate positions and 1.2% of the company's overall workforce, which exceeded 1.5 million as of the third quarter, according to a recent earnings report. Amazon saw a net income of $2.9 billion in the third quarter, marking a decline from $3.2 billion one year earlier.

    Share prices for Amazon have decreased nearly 49% over the past year as technology companies bear the brunt of recent stock market selloffs. Industry leaders are slashing costs in the expectation that continued volatility will emerge from inflationary pressures, supply chain bottlenecks, geopolitical tension, and efforts from the Federal Reserve to battle rising prices.

    Last year marked one of the worst in stock market history. The S&P 500 index fell nearly 20%, while the technology-heavy NASDAQ plummeted more than 33%.

    Technology companies dismissed more than 90,000 workers last year, according to a report from CrunchBase, which included both small ventures and established firms. News of the layoffs at Amazon came as Salesforce, which develops business software solutions for customer relationship management and marketing automation, dismissed one-tenth of workers.

    "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that," Salesforce CEO Marc Benioff told employees. "I'm grateful for every single one of you who has contributed to our continued success as a company, and the hard work and sacrifices you have made to generate success for our hundreds of thousands of customers."

    The latest rounds of staff reductions indicate that technology executives and investors remain pessimistic in the new year. Some companies have been criticized for hiring sprees that followed the end of the lockdown-induced recession and an adjacent rise in consumer demand.

poll#162

In what may be the most divisive period in modern American History, even more divisive than the turbulent sixties due to today's lack of patriotism, consider what are the major catalysts causing so much of this calamity of conflict, and vote: What most instigates the division of America, on this day September 20, 2022?

  Racism within our society

  Sex realignment to the detriment of our society.

  Biden /Harris Wide Open Southern Border Policy for the Demographic Upheaval of OUR Constitutional Republic

  Rampant Crime in Democratic controlled cities, and the possible contagion elsewhere

  Covid Pandemic, and its mishandling at the political, and bureaucratic levels.

  The unresolved questions /allegation regarding the flawed 2020 General Election

  January 6th Riot or "Armed Insurrection", depending upon patriotic perspective

  Joe Biden as Divisive Leader; Ineffective and Corrupt Executive

  Failed Education Industry, from an overall perspective, regarding all levels of education.

  Propagandistic Media in complete conflict with the First Amendment's guarantee of Freedom of Speech, and the awesome responsibility of a Free Press..

  "Orangeman Bad!"

  Bureaucracy rushing to a behemoth size, its unjustified expense, and far too often overreach.

  The Weaponized Deep State for political purposes

  A secular ambivalence to all that is real.

  Record number of overdose deaths from opioids and now Fentanyl

  Biden Administration's disastrous Foreign Policy

  Bidenflation /supply chain failure inevitably evolving into stagflation and recession.

  "Ultra MAGA Extremists" freely speaking louder AND LOUDER!

927 total vote(s)     What's your Opinion?

poll#166

With the Midterm Elections less than one week away: What do you consider the top issues that you will be voting on to be corrected by your better representation?

  Education

  Crime

  Big Government getting Bigger

  Biden /Democrat controlled Spike in Energy Cost

  Inflation created by Legislation of Majority in Power

  Gender Reassignment

  Corrupted Bureaucratic /Service (DOJ, FBI, etc.) Institutions

  Abortion

  Discredited Legacy Media

  Ending the Corruption of Dishonest Politicians

  Corruptive Influence of Social Media

  Wide Open Southern Border

439 total vote(s)     What's your Opinion?