Amazon to layoff 18,000 employees amid weak online sales growth
Amazon.com, struggling with a dip in online sales growth and prepping up for a possible recession, is likely to trim its workforce further, media reports said.
Earlier this month, Amazon announced that it was cutting 18,000 jobs among its corporate ranks, the biggest in its history, Bloomberg reported.
The latest round, slated to start Wednesday, will mostly affect the retail division and human resources.
The previous job cuts affected Amazon’s Devices and Services group, which builds the Alexa digital assistant and Echo smart speakers.
The cuts represent only about 1% of the total workforce, affecting hundreds of thousands of hourly warehouse and delivery personnel, they account for about 6% of Amazon’s 350,000 corporate employees around the globe.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
India's tour to Australia: Shubman Gill replaces Rohit Sharma as ODI skipper
Women's Cricket World Cup: Hannah Rowe approved as replacement for Flora Devonshire in New Zealand squad
Indian couple from Nagpur killed in road accident in Italy
India thrash West Indies in Ahmedabad by an innings and 140 runs, take unbeatable 1-0 lead
