The Amazon group has announced the cutting of "just over 18 thousand" jobs, distributed in the various markets in which the e-commerce group operates and therefore also in Europe. In a communication released on the group's website, Amazon CEO Andy Jassy said that Amazon, which had already talked about 10 job cuts in November, has revised its estimate upwards and "expects to cut little more than 18 thousand places. Revising our annual planning – added Jessy – was more difficult this year given the economic uncertainty and the fact that we have hired a lot in recent years”.
“Amazon has weathered uncertain and difficult economic times in the past and will continue to do so,” Jassy said. “These changes will help us pursue our long-term opportunities with a stronger cost structure.”
Amazon investors have reacted positively to the Amazon summit announcements, betting on an increase in the e-commerce company's profits. Shares are up nearly 2% in recent trading after The Wall Street Journal first reported on the plan.
Amazon isn't the only Silicon Valley company to announce massive job cuts. Meta, the Facebook company, announced 11.000 workforce cuts in November, 13% of the workforce, many of them hiring in 2022. But the cumulative layoff of 18 employees constitutes the largest workforce cuts ever by a company Bigh Tech during the current economic downturn. But Amazon also has a much larger workforce than other Silicon Valley companies. At the end of September 2022, it had more than 1,5 million employees, so that the latest announced cuts would represent around 1% of the workforce.
