advertisement
Forums

The Forum is sponsored by 
 

AAPL stock: Click Here

You are currently viewing the Tips and Deals forum
getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: NewtonMP2100
Date: November 14, 2022 09:56AM
…..starting this week….


Amazon reportedly plans to lay off about 10,000 employees starting this week

....Amazon is planning to lay off approximately 10,000 employees in corporate and technology roles beginning this week, according to a report from The New York Times. Separately, The Wall Street Journal also cited a source saying the company plans to lay off thousands of employees.

Shares of Amazon closed down about 2% on Monday.

The cuts would be the largest in the company's history and would primarily impact Amazon's devices organization, retail division and human resources, according to the report. The reported layoffs would represent less than 1% of Amazon's global workforce and 3% of its corporate employees.

The report follows headcount reductions at other tech firms. Meta announced last week that it's laying off more than 13% of its staff, or more than 11,000 employees, and Twitter laid off approximately half its workforce in the days following Elon Musk's $44 billion acquisition of the company.

Amazon reported 798,000 employees at the end of 2019 but had 1.6 million full- and part-time employees as of Dec. 31, 2021, a 102% increase. The New York Times said the total number of layoffs "remains fluid" and could change.

A representative from Amazon did not immediately respond to a request for comment.

The holiday shopping season is critical for Amazon, and usually, one where the company has increased its headcount to meet demand. But Andy Jassy, who took over as CEO in July 2021, has been in cost-cutting mode to preserve cash as the company confronts slowing sales and a gloomy global economy.

The company has already announced plans to freeze hiring for corporate roles in its retail business. In recent months, Amazon shut down its telehealth service, discontinued a quirky, video-calling projector for kids, closed all but one of its U.S. call centers, axed its roving delivery robot, shuttered underperforming brick-and-mortar chains, and is closing, canceling or delaying some new warehouse locations.

Amazon reported disappointing third-quarter earnings in October that spooked investors and caused shares to sink more than 13%. It marked the first time Amazon's market cap fell below $1 trillion since April 2020, and the report was the second time this year that Amazon's results have been enough to spark a double-digit percentage sell-off. The sell-off continued for days after the report and erased almost all of the stock's pandemic surge.

Amazon stock is down about 41% for the year, more than the 14% drop in the S&P 500, and is on pace for its worst year since 2008....



……..more lay offs……..?!



_____________________________________

I reject your reality and substitute my own!



Edited 3 time(s). Last edit at 11/14/2022 04:17PM by NewtonMP2100.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: Acer
Date: November 14, 2022 10:01AM
"Amazon reported 798,000 employees at the end of 2019 but had 1.6 million full and part time employees as of Dec. 31 2021, a 102% increase."

10,000 is spit in that ocean.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: MindMeld
Date: November 14, 2022 10:37AM
Quote
Acer
"Amazon reported 798,000 employees at the end of 2019 but had 1.6 million full and part time employees as of Dec. 31 2021, a 102% increase."

10,000 is spit in that ocean.

Statistically yes, but not if you are one of the 10,000.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: Rolando
Date: November 14, 2022 10:39AM
Quote
Acer
"Amazon reported 798,000 employees at the end of 2019 but had 1.6 million full and part time employees as of Dec. 31 2021, a 102% increase."

10,000 is spit in that ocean.

Unless you're on of the 10,000.

And laying off BEFORE Christmas? Thats what hit me!



San Antonio, TX (in the old city)


"All that is required for evil to prevail is for good men to do nothing." - Edmund Burke
“Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented." - Eli Weisel

"To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." - Theodore Roosevelt (1918)

"I don’t want to see religious bigotry in any form. It would disturb me if there was a wedding between the religious fundamentalists and the political right. The hard right has no interest in religion except to manipulate it." - Billy Graham 1981

"Politics and governing demand compromise. But these Christians believe they are acting in the name of God, so they can't and won't compromise" - Barry Goldwater



Edited 1 time(s). Last edit at 11/14/2022 10:40AM by Rolando.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: mattkime
Date: November 14, 2022 11:06AM
Amazon is big enough that it’s hard to tell who will be cut although they do mention devices…although Amazon makes a lot of devices at this point.



Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: GGD
Date: November 14, 2022 11:10AM
Quote
Rolando
And laying off BEFORE Christmas? Thats what hit me!

Yes, this is usually the time period when they're hiring as fast as possible for their warehouse and delivery positions.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: decay
Date: November 14, 2022 11:18AM
[www.zippia.com]

Using a database of 30 million profiles, Zippia estimates demographics and statistics for Amazon. Our estimates are verified against BLS, Census, and current job openings data for accuracy. After extensive research and analysis, Zippia's data science team found that:

Amazon has 1,608,000 employees.

48% of Amazon employees are women, while 52% are men.

The most common ethnicity at Amazon is White (61%), followed by Hispanic or Latino (16%) and Black or African American (11%).

16% of Amazon employees are Hispanic or Latino.

11% of Amazon employees are Black or African American.

The average employee at Amazon makes $64,805 per year.

Amazon employees are most likely to be members of the democratic party.

On average, employees at Amazon stay with the company for 2.7 years.



---
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: decay
Date: November 14, 2022 11:21AM
[www.vox.com]

Leaked Amazon memo warns the company is running out of people to hire

Unions might not be the tech giant’s biggest labor threat.



---
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: cbelt3
Date: November 14, 2022 11:35AM
FWIW, AMZ has two primary income streams:
1- Tech (AWS, etc..)
2- Logistics (sales, warehousing, distribution, transportation).

1 makes most of the profit.
2 is what everyone thinks of.

Odds are this is cancellation of a tech project. Big tech projects are failing this year... Meta, Twitter, etc...
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: RAMd®d
Date: November 14, 2022 01:14PM
Yeah, Merry Christmas.


Logistics (sales, warehousing, distribution, transportation).

No doubt this will improve delivery times and get us back to guaranteed two-day deliveries.






I am that Masked Man.

All you can do, is all you can do.

There’s trouble — it's time to play the sound of my people.

Your boos mean nothing to me, I've seen what you cheer for.

Insisting on your rights without acknowledging your responsibilities isn’t freedom, it’s adolescence.

I've been to the edge of the map, and there be monsters.

We are a government of laws, not men.

Everybody counts or nobody counts.

When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men except
by believing all possible evil of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

I *love* SIGs. It's Glocks I hate.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: Ombligo
Date: November 14, 2022 02:42PM
Quote
decay
The average employee at Amazon makes $64,805 per year.

Drop Bezos's salary out of the equation and the average employee makes diddly squat.



“No persons are more frequently wrong, than those who will not admit they are wrong.” -- François de La Rochefoucauld

"Those who cannot accept the past are condemned to revise it." -- Geo. Mathias

The German word for contraceptive is “Schwangerschaftsverhütungsmittel”. By the time you finished saying that, it’s too late
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: mattkime
Date: November 14, 2022 03:49PM
Citing the average amazon salary is nearly meaningless. You have tech works making >2x that and then you have delivery people making significantly less than that.



Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: JoeH
Date: November 14, 2022 03:57PM
Quote
mattkime
Citing the average amazon salary is nearly meaningless. You have tech works making >2x that and then you have delivery people making significantly less than that.

Yeah, more informative would be figures for the median salary or the mode.

Also it would be interesting to know if the 1.6 million workers number and the salaries connected to that are for all people working at Amazon, including contract labor. At one point there were quite a few of the lower paid workers who did work at Amazon, but were paid through outside contract agencies.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: macphanatic
Date: November 14, 2022 04:43PM
May just be the beginning. Amazon has developed new warehouse robots that can pick and pack the vast majority of the products that it sells. They are starting to deploy the tech now. If successful, they will become far less dependent on warehouse staff and eliminate many of these jobs.
Options:  Reply • Quote
Re: getting LAY’D, getting OFF?!….Amazon planning to LAY OFF 10,000 workers…..
Posted by: August West
Date: November 14, 2022 05:16PM
I also try to go with median when looking at income stats.

Quote
Business Insider 2021
The median Amazon worker made $29,007 in 2020, a $159 increase from the year prior



“There comes a point where we need to stop just pulling people out of the river. We need to go upstream and find out why they’re falling in."

Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 140
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 5122 on October 03, 2020