Recently Amazon announced that the company intends to reduce its workforce by 10,000 employees in an attempt to adjust to business conditions in the near future. Amazon’s Chief Executive Officer Andy Jassy has now stated that the job cuts will continue into 2023.
The company is dedicating time to examining its priorities and what needs to be done to achieve long-term health, however, challenges with the continued staggered economy are leaving the company little choice.
The company is giving designated employees 60 days to attempt to find new jobs within the company and is also offering severance packages to anyone who fails to do so.
Amazon is reporting the smallest revenue growth during the holiday season in company history. The situation has become so dire that some employees have begun turning the situation into a joking matter. One employee posted “If you didn’t get a notice today, congrats. You have survived Squid Games Day 1,” referring to the popular Netflix series Squid Game in which contestants compete in deadly games for a chance to win cash.
Source: Financial Times