**
Amazon Prepares for Largest Layoffs in Its History
E-commerce giant Amazon is reportedly set to announce the largest workforce reduction in its 28-year history, according to an internal source. The layoffs, expected to impact thousands globally, come as the company faces slowing growth, economic uncertainty, and pandemic-era overstaffing.
Unprecedented Job Cuts Expected
While Amazon has not officially confirmed the layoffs, insiders suggest the restructuring could affect up to 10,000 employees, primarily in corporate and tech divisions like Alexa, retail operations, and HR. This would surpass Amazon’s previous record of 1,500 layoffs during the 2001 dot-com crash.
The move follows a disappointing Q3 earnings report, where Amazon posted sluggish revenue growth and a cautious holiday forecast. CEO Andy Jassy has prioritized cost-cutting measures amid rising financial pressures.
Pandemic Hiring Spree Leads to Overstaffing
During COVID-19, Amazon doubled its workforce, hiring 800,000+ employees to meet surging demand. But as consumer habits normalized and inflation soared, the company found itself overstaffed in key areas.
“Big Tech is correcting course after years of hypergrowth,” said analyst Rohan Mehta. “Meta, Twitter, and Microsoft already made cuts—Amazon is next.”
Big Tech’s Layoff Wave Continues
Amazon joins a string of tech giants downsizing in 2022, including:
– Meta: 11,000 layoffs
– Twitter: 3,700 layoffs
– Microsoft: 1,000 layoffs
Rising interest rates, recession fears, and declining ad revenue have forced Silicon Valley to rein in spending. Amazon’s stock has also plummeted 50% this year, erasing $1 trillion in market value.
Impact on Employees and Investors
The layoffs will create anxiety among Amazon’s 1.5 million employees, especially after a recent hiring freeze. Workers in India, a major hub for Amazon’s tech and operations, may also be affected.
Investors, however, may see this as a necessary step. “Cost-cutting now could safeguard margins if the economy worsens,” said financial expert Priya Kapoor.
Amazon’s Future Strategy
Despite layoffs, Amazon continues investing in:
– AWS (cloud computing)
– Logistics & healthcare (via One Medical acquisition and Amazon Clinic)
CEO Andy Jassy has shifted focus from rapid expansion to profitability, marking a departure from Jeff Bezos’ growth-first approach.
What’s Next?
These layoffs signal a turning point for Amazon as pandemic-era growth fades. The coming weeks will reveal whether this is a short-term adjustment or the start of a larger downsizing trend.
Follow NextMinuteNews for updates.
Got a tip? Share your thoughts in the comments or DM us @NextMinuteNews.
**
