Amazon, one of the world’s biggest companies, has confirmed that it is laying off employees in its advertising department as part of the company’s efforts to implement cost-cutting goals set by CEO Andy Jassy. While the scale of the layoffs is unclear, they are aimed at reallocating resources to maximize benefits for customers and ensure the long-term health of the business.
Amazon is also cutting jobs in its cloud computing, Twitch and HR Departments
The move comes as Amazon is undergoing the largest layoffs in its 29-year history. This was implemented after Jassy announced that Amazon will lay off 9,000 additional jobs on top of the 18,000 it cut in November last year and January this year. In addition to the recent layoffs in retail, equipment, recruiting, and human resources, Amazon is also cutting jobs in its advertising, cloud computing, Twitch streaming, and human resources departments.
These layoffs are part of a wider trend in the tech industry, as many companies are reassessing their workforce needs in the wake of the COVID-19 pandemic. Companies that have been heavily reliant on office-based workforces are rethinking their strategies, with many planning to continue with remote work arrangements even after the pandemic subsides. This shift is leading to layoffs in certain areas while creating new opportunities in others.
Despite the layoffs, the tech industry is still expected to be a major employer in the coming years. According to the U.S. Bureau of Labor Statistics, employment in computer and information technology occupations is projected to grow 11% from 2019 to 2029, much faster than the average for all occupations. This growth is expected to be driven by increasing demand for cloud computing, big data, and cybersecurity.
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(Via)
