Amazon shrinks workforce by 100,000 as hiring freezes and layoffs hit the tech sector
With recession fears mounting — and inflation, the war in Ukraine and the lingering pandemic taking a toll — many tech companies are rethinking their staffing needs, with some of them instituting hiring freezes, rescinding offers and making rounds of layoffs.
Amazon.com Inc. was one of the latest company to discuss its belt-tightening efforts this week. During its quarterly earnings call Thursday, the e-commerce giant said it’s been adding jobs at the slowest rate since 2019. After relying on attrition to winnow its staff, Amazon now has about 100,000 fewer employees than in the previous quarter.
Related: Americans opened 233 million new credit card accounts in the April-June period, the most since 2008.
Rasmussen Reports: 62% now believe that the economy is in recession, including nearly half of Democrats.
I guess this means we’ll be seeing a little less of “Ernesto” in “Jeff Bezos is my Lord and Saviour” Amazon commercials.
I’m sorry but the use of the term “tech sector” is just wrong for many companies, especially Amazon which is a mass marketer/wholesaler/retailer.
This. The software market is hotter than the surface of the Sun right now. Where these layoffs are happening are in the non-tech positions so that the org can pay retention bonuses to its programmers and pay the salaries necessary to attract new ones.
This should be good news for the WEF and all it’s cultists, after all this reduces the amount of traffic from package deliveries…isn’t there a climate crisis? I mean they are attacking fertilizer production right now…Oh wait, Jeff Bezos is one of the top cult member so Amazon doesn’t count just like China’s pollution doesn’t count. Silly me.
Credit Suisse mulling thousands of job cuts. When business demand for capital declines, you can’t justify jobs for those who arrange loans for said businesses.
https://www.bloomberg.com/news/articles/2022-08-04/credit-suisse-mulls-cutting-thousands-of-jobs-to-revive-lender?srnd=premium-canada
“It depends on what your definition of the word definition is..”
Isn’t the word definition now fluid? That just makes everyone’s life easier. No mistakes here. No responsibility needed.