Home Business Amazon plans to lay off 20,000 workers after over-hiring during pandemic: report

Amazon plans to lay off 20,000 workers after over-hiring during pandemic: report

Amazon plans to lay off 20,000 workers: report

In the coming months, Amazon may lay off around 20,000 employees including corporate executives computer World,

The tech giant, which employs more than 1.6 million globally, will likely show the door to employees from various departments. These include delivery staff, corporate officers and technology staff.

The layoffs will affect employees at all levels in the company, the report said, citing unnamed sources familiar with the matter.

Last month, The New York Times reported that Amazon was planning to lay off more than 10,000 employees, in what would be the largest layoff in the technology company’s history. However, now reports say that the number of laid off employees could be doubled.

Amazon has told its managers in the last few days that they should find out the issues related to the performance of the employees.

According to sources, the corporate employees to be sacked will be given 24 hours’ notice and severance pay as per the company’s contracts.

A source, who was directly informed of the impending layoffs, said that employees were horrified after learning about the job cuts.

The source said Amazon is targeting a specific department or location for layoffs and the move could affect employees across the business.

The layoffs come after Amazon over-hired during the pandemic and is now implementing cost-cutting measures.

In October, Amazon predicted slower growth in sales for this year’s holiday season, which typically records the most sales.

The company attributed the slowdown to consumers and businesses having less money to spend amid rising prices.

Following this, it was reported that the e-commerce giant cautioned its employees in some unprofitable units to start looking for opportunities within the company.

Amazon is battling a massive slowdown in e-commerce growth after consumers returned to pre-pandemic habits. It postponed the opening of warehouses and put a halt on hiring at the retail conglomerate.

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