Sunday, June 23, 2024

Amazon Layoffs: The Biggest Cost Cutting of Recent Times

We all have seen a great recession recently. Many of the people lost their jobs. Employees got unemployed on a huge scale. Many big companies laid off their employees in thousands of numbers. Many lost their jobs in this period and it was hard to find a new job at that time. Most of the companies were MNCs like Accenture and even Amazon. So we will go through Amazon layoffs today. Amazon laid off more employees recently after the recession period. There were some reasons for doing that. It gained a lot of profit in COVID. As people were not able to buy things from the store. Everyone was avoiding to go out because of COVID.

So they did a lot shopping on Amazon as it is the biggest e-commerce company all over the world. Amazon also serves movies and shows on its OTT platform named Prime Video. So to pass the time people were also watching movies and shows all over the day for entertainment. As it was the only thing left that can be done whole day. So as its business boosted then they hired employees on a huge scale. COVID period gone business back to normal or you can say there is a drop in their business. So this can be a reason behind the Amazon layoffs. Now let’s go through the important information about this through this article. To know the truth and facts about it read this article with an eagle eye and focus till the end.

Amazon Layoffs

Amazon laid off huge number of employees that a normal company does not have that many employees. Amazon laid off around 27000 employees. As I have mentioned above that in the COVID period they just hired a huge number of employees due to the business requirements. Company should think about it that when they need employees they are hiring and when things are declining a bit they just laid off. This impacts badly on a normal person especially when they are the one on whose expense the house is running. Obviously, they did this for cost-cutting and to manage their economic conditions.

Amazon laid off around 18000 employees in January 2023 but they didn’t stop here. They laid off 9000 more employees in March. Not only this companies laid off employees and freeze the hiring. Amazon Layoffs seems like a seasonal fruit now. Which comes every year in a season? We are saying this because they cut off some of their employees again in January 2024. They laid off the employees from Prime Video and their MGM Studios. For last two years, they are constantly laying off their employees after every few months. Amazon jobs are not reliable anymore. It seems like if you are employed in Amazon then you do not have any job security. You should keep looking for new jobs if you’re an employee of Amazon.

Vice President Statement

Mike Hopins the vice President Amazon prime video and MGM Studios. He released a statement in which he said that they are looking to invest in some new initiatives. Due to that they need to manage the budget from the sector which are not giving them the expected profit. He further added that they keep on looking their business constantly that if something is not going right and something more should be done for the well-being of the company. That’s the reason that they are laying off the employees. If it is needed to layoff the employees in future, then also they will do the same. It all depends on the business requirements and for the welfare of the company.

If we see accordingly they are also right according to business perspective. I mean if we are running a business and if we feel like we are going in loss then we will surely do whatever is possible to stable the economic conditions of the company. They are also doing the same. There is nothing right or wrong in this world. It totally depends on the perspective of an individual. So the employees and the company both are right according to the situation.

Amazon initiated boosting its OTT platform. For which they invested a good whopping amount. These investments are the reason behind the recent layoffs. They made deal of $8.5 Billion with MGM. They also invested more than $400 on a web series on its OTT platform i.e. Prime Video.

Amazon Layoffs
Amazon Layoffs


Lastly, I want to say that whatever they are doing for their business is not wrong. Still as being a very big company the biggest e-commerce company in the world should think on their action of laying off employees. It is declining their image. Now whenever a person looks for a job they always search about the company in all the aspects. They will find this company nonreliable and having no job security. This should be a point of improvement for the company’s image. There are lot of things which can be done in different manners and can be improved.

Hope you got all the information which is required through this article. Thank you for being with the article till the end. We will meet in the next article with new and important facts and information. Till then stay safe, stay healthy and keep yourself updated.

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