LONDON: Amazon.com Inc’s layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday.
The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company’s e-commerce and human-resources organizations, he said.
The cuts amount to 6 percent of Amazon’s roughly 300,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent.
Amazon has more than 1.5 million workers including warehouse staff, making it America’s second-largest private employer after Walmart Inc.
Its stock rose 2 percent in after-hours trade.
Jassy said in the note that annual planning “has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years.”
Amazon has braced for likely slower growth as soaring inflation encouraged businesses and consumers to cut back spending and its share price has halved in the past year.
The company began letting staff go in November from its devices division, with a source telling Reuters at the time it was targeting around 10,000 cuts.
Arab News reached out for comment and what would be the impact of the cuts on the MENA region but the company said that “at this point in time there is nothing more to add.”
The tech industry shed more than 150,000 workers in 2022, according to tracking site Layoffs.fyi, a number that’s continuing to grow. Salesforce Inc. said Wednesday it planned to eliminate about 10 percent of staff, which numbered nearly 8,000 as of Oct. 31.
The reversal of Amazon’s fortunes has been stark. It changed from a business deemed essential during the pandemic for delivering goods to locked-down homes, to a company that overbuilt for demand. Its layoffs now surpass the 11,000 cuts announced last year by Facebook-parent Meta Platforms Inc. .
Jassy’s note followed a report in the Wall Street Journal that the reduction would be more than 17,000 jobs. He said Amazon chose to disclose the news before informing affected staff because of a leak.
Amazon still must file certain legal notices about mass layoffs, and it plans to pay severance.
Jassy said, “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so.”
With agencies
Amazon CEO says job cuts to exceed 18,000 roles
https://arab.news/cf5b7
Amazon CEO says job cuts to exceed 18,000 roles
- Layoffs reflect industry-wide trend where in 2022 more than 150,000 jobs have been lost
Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA
- Nasdaq to deliver exclusive real-time US equities market data
- Real-time updates fully integrated into Asharq Business’ data infrastructure and available across all platforms
RIYADH: Asharq Business with Bloomberg, the region’s leading business and financial news multi-platform channel, announced Tuesday a strategic three-year collaboration with Nasdaq, to deliver exclusive real-time US equities market data and updates to investors and decision-makers across the Middle East.
Through access to Nasdaq’s official data product, Nasdaq Last Sale (NLS), Asharq Business with Bloomberg will receive real-time last-sale trade updates and calculated insights across major US exchanges directly from the Nasdaq Market Center. The collaboration strengthens market transparency, enhances data-driven storytelling, and provides audiences and partners with deeper insight into global financial activity.
With a rapidly growing investor base in the region — and with Nasdaq serving as a primary destination for many Arab and regional investors — Asharq Business with Bloomberg reinforces its mission to deliver timely, accurate, and exclusive financial updates by integrating NLS data into its digital platforms, live markets coverage, and broader data ecosystem.
Leveraging its partnership with Bloomberg Media — which grants access to reporting from over 2,700 journalists and analysts worldwide — Asharq Business with Bloomberg continues to build on its reputation as the region’s most trusted and credible multi-platform business news source. The collaboration with Nasdaq underscores its commitment to providing reliable, data-backed content across social, digital, and streaming platforms, available for audiences anytime and anywhere.
Dr Nabeel Al Khatib, General Manager of Asharq News Network, commented: “It has been five years since the inception of Asharq Business with Bloomberg, and our audience has always been at the center of everything we do. We invest time and effort to understand what matters to them, ensuring we deliver data and stories that genuinely support informed decision-making. With growing regional interest in global markets, our collaboration with Nasdaq marks a strategic step toward offering a clearer, more comprehensive view of international financial activity. Through Nasdaq Last Sale, we aim to further empower our audience with transparent, real-time insights, strengthening their ability to navigate an increasingly interconnected global investment landscape.”
The Nasdaq leadership team added: “We are pleased to collaborate with Asharq Business with Bloomberg to broaden access to high-quality US market data in the Middle East. Through Nasdaq Last Sale, we aim to enhance transparency, support informed decision-making, and contribute to a more connected global investor community.”
