Amazon CEO Andy Jassy Confirms To Lay Off 18,000 Employees GloballyVignesh Subbaian (Author) Published Date : Jan 09, 2023 09:14 IST
Amazon is reportedly planning to lay off around 1,000 employees in India as part of its global downsizing. The company said it would cut about 18,000 jobs globally, citing uncertain economic conditions.
In this regard, Amazon sources said, "In November, we communicated the hard decision to eliminate a number of positions across our Devices and Books businesses, and also announced a voluntary reduction offer for some employees in our People, Experience, and Technology (PXT) organization. I also shared that we weren't done with our annual planning process and that I expected there would be more role reductions in early 2023."
The global layoffs will affect approximately 1,000 employees in India. Most affected employees work in sectors like grocery, MSMEs and other retail goods and services. Amazon CEO Andy Jassy informed employees in a blog on Thursday (January 5) of the company's decision to eliminate 18,000 characters worldwide.
As of December 31, 2021, Amazon employs approximately 1.6 million full-time and part-time employees. Even after investing $6.5 billion in India over the last eight years, Amazon has yet to turn a profit with negative EBITDA margins of 5-10%.