Numerous tech companies have recently let go of many employees out of concern for the deteriorating economy. As a result, a number of IT companies reportedly see falling profits. A drop in advertiser spending has been mentioned by companies like Meta, which has announced 11,000 layoffs, as a reason for the internet giant’s revenue shortfall. Many employees at both Google and Amazon fear they may be let go in the near future. Detailed information is provided below.
Amazon, in contrast to other large internet companies, has openly recognised layoffs. It is unclear how many Amazon employees will be laid off, but estimates put the number as high as 20,000. In November, it was reported that 10,000 people would be laid off, but more recent estimates indicate the figure is substantially higher.
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A few months ago, Amazon’s CEO said that the company will continue its layoff process and that employees would be informed after the company had finished its examination. It’s possible that the number of layoffs was revised upward because a comprehensive review of all regional divisions is presently underway to save money.
To further reduce expenses, Amazon is also implementing a number of different initiatives. Amazon Academy, the company’s online schooling programme, will remain active in India for some time longer since beta tests are still being conducted.
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Following the recent news that Amazon would be expanding its Amazon Web Services (AWS) division, the company has halted all hiring efforts. The company’s cloud sector is reportedly lucrative and fast expanding.
About 6% of Google’s workforce could be affected by layoffs, according to rumours. It has been reported that the search giant has encouraged managers to use performance reviews as a means of weeding out poor performers. Since Google has just stated that it will reduce hiring activity in the fourth quarter of the year, layoffs are likely to occur as a result.
