On the same day that Amazon founder Jeff Bezos vowed to give away most of his $124 billion fortune, it was revealed that his company is planning about 10,000 layoffs.
Citing unnamed sources, The New York Times today reported that Amazon could lay off thousands of business and technology executives earlier this week in what would be its biggest job cuts ever. The paper said the layoffs will focus on retail, human resources and home appliances, the latter of which includes people working on the AI voice assistant Alexa.
If the layoffs are correct, they would represent about 3% of Amazon’s workforce and less than 1% of its 1.5 million employees worldwide.
Amazon shares tumbled late last month after the release of a third-quarter earnings report that showed earnings beat Wall Street analysts’ consensus estimate, but the earnings line fell slightly short of expectations. Results at its Amazon Web Services division also disappointed, notably a 27% year-over-year increase in revenue to $20.5 billion.
The company’s shares are up 1% to 99.78 at 11:15 a.m. PT today.
The news about the giant behind Prime Video follows recent layoffs or impending layoffs at a number of other major media and entertainment companies, including Disney, Warner Bros. Discovery, Meta and Twitter.
Writer: Eric Pedersen
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
