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Google and Amazon are to lay off thousands of employees
Google and Amazon are to lay off thousands of employees
Google and Amazon are expected to lay off thousands of employees soon. Here is everything you need to know.
Many tech companies have been laying off many employees to save costs as they fear an economic downturn. As a result, several tech companies are reportedly experiencing revenue losses. Companies like Meta, which announced the layoff of 11,000, said reduced advertiser spending had been one reason the tech giant has experienced revenue losses. Google and Amazon are expected to lay off thousands of employees very soon. Here is all you need to know.
Google and Amazon expect mass layoffs soon
Unlike some of the major technology companies, Amazon has officially announced the layoff of employees. While the company did not disclose the exact number of employees that will be laid off, reports have hinted that Amazon plans to lay off as many as 20,000. In November, it was reported that 10,000 people would be laid off, but the number has reportedly risen by a large margin.
The CEO of Amazon recently announced that the dismissal process would continue for a few months and that the affected employees would be informed once the company evaluates everything. Therefore, the number of reductions could have increased, as it is rigorously reviewing all departments in the regions to save costs. Amazon recently said it would gradually reduce the number of employees, not all at once. He confirmed that the process will continue until early 2023 when layoffs occur due to the unusual and uncertain macroeconomic environment.
To reduce expenses, Amazon is also taking other measures. It reportedly plans to delay projects currently in beta testing and shut down its Amazon Academy learning platform in India, but this will take time. In addition, Amazon has completely halted hiring, as it was recently discovered that it would add more staff to the company's Amazon Web Services (AWS) business. The company's cloud unit is reportedly quite profitable and experiencing rapid growth.
It is also said that Google will lay off up to 10,000 employees, about 6 per cent of the company's workforce. The search giant has reportedly asked managers to evaluate employee performance so that it can weed out poor performers. Google is likely cutting staff to save costs because it recently announced that it would slow down the hiring process in the year's fourth quarter.
