Amazon, which is one of the largest companies in the world, has made a name for itself with its successes over the years. The big rise seems to have stopped recently. The company has been downsizing in recent months. It seems that this shrinkage will continue.
Amazon to continue layoffs until end of 2023
Giant companies continue to take measures in the face of the economic fluctuation around the world. As a precaution, many companies resort to the most brutal method of layoffs. One of them was Amazon. The company has come to the fore with news of layoffs in the past few months.
The CEO of the company, Andy Jassy, sent an email to his employees yesterday. According to the forwarded message, Amazon will continue to shrink until the end of 2023. Jassy stated that they hired too much due to the growth experienced in the last few years. However, he mentioned that it is imperative to shrink again due to the recent economic situation.
Amazon introduced its new delivery drone!
Amazon has announced that a much more advanced delivery drone, called the MK30, will enter service by 2024.
A few days ago, Dave Limp, head of Amazon’s hardware division, said that some departments in the company are no longer needed. Limp said that they would merge some departments and remove others altogether. According to a report in The New York Times, as many as 10,000 workers could be laid off as a result of the changes.
On the other hand, the decline in Amazon continues. The company’s market value reached 1.88 trillion dollars in the summer of last year, breaking the historical record of the company. But as of today, it has decreased to 878 billion dollars. This made it the first publicly traded company to lose $1 trillion in value.