Posted: Tuesday, March 21, 2023. 12:38 pm CST.
By Benjamin Flowers: Since late last year, major tech corporations have been laying off thousands of employees with the latest firings coming from Amazon.com, which recently announced that 9,000 of the company’s workers would be let go.
Amazon is targeting employees from its cloud and advertising divisions, as well as its Twitch streaming service. Reuters reports that, with this latest round of firings, Amazon will have let go a total of 9 percent of its workforce (27,000 people).
The company said that it will finalize which employees from the selected divisions will be let go sometime in April. The company’s stock value fell by two percent shortly after the announcement.
Last year Amazon made cuts to its devices, e-commerce, and human-resources sectors. Other tech companies such as Meta, the parent company of Facebook and Instagram, and Google have been following suit and laying off thousands of employees.
Data from Reuters shows that Twitter fired the most employees of any tech company in 2022, representing 52.7 percent of all tech company firings this year.
The major reason these companies cite for their mass firings is economic uncertainty.
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