News
Amazon to Lay Off About 10,000 Employees
posted on by Alex Mateo
Amazon has begun laying off employees this week, and it is reportedly planning to lay off about 10,000 people in corporate and technology jobs. This includes the Amazon devices organization (Alexa), retail division, and human resources.
The number 10,000 represents about 3% of Amazon's corporate employees and less than 1% of its global employees.
Sales trends for the holidays are gravitating towards brick-and-mortar retail shops over online retailers.
Earlier this year, Amazon raised the annual subscription price of its Amazon Prime service from US$119 to US$139 and its monthly subscription price from US$12.99 to US$14.99. The company plans to triple the amount of original shows and movies that debut on the Amazon Prime Video streaming service.
Amazon revealed in its Q4 earnings report that it has earned US$137.4 billion in quarterly revenue, an increase over the previous year's US$125.6 billion. The company reported profits of US$14.3 billion, almost double the previous year's profits of US$7.2 billion.
Sources: ICv2 (Milton Griepp), New York Times (Karen Weise)
