What has happened recently ?
Amazon, the giant company with a market cap of $2.42 trillion is now planning to terminate 30,000 employees in one lay off. This corporate job cut off represents 10% of its 3,50,000 corporate employees.
Why is Amazon doing this ?
The company wants to reduce its overall expenses and also wants to reduce the overhiring that occurred during the peak demand during the pandemic.
The company made employees come to the office five days a week. Because of this, fewer people quit on their own — so now the company is doing layoffs instead.
Amazon’s CEO Andy Jassy and his top team made this decision to make the company run more efficiently and save money. Because of this, many middle manager and other jobs are being cut.
Amazon is now using AI and machine learning in many parts of its work. These tools are doing many simple office and support tasks automatically.
It is not only this time, In 2022, Amazon fired 27,000 workers — it was a huge layoff and the biggest one at that time.
What is now trending. Do you know friends?
Amazon fired 30,000, Microsoft fired 15,000, Meta lay off 600 from its AI unit, Google cut 100 designated posts, salesforce terminate 4000. These all are making USA great again. Yes, they lay off employees, cut their income, and still want to be a great country company.”
These layoffs are primarily being done to improve costs, correct overhiring, and accelerate automation due to AI. So, It is a good thought of company. But, what will employee’s family do ?
What will be the future of Amazon and what will be its strategy ?
- Amazon has planned to make investment of $100 Billion in AI and cloud infrastructure.
- AI-powered services and new products like the AI-based Alexa+ are now the main focus areas for Amazon Web Services (AWS).
- Amazon is currently reducing its workforce but will recruit employees during festivals and seasonal periods.
In shot
Amazon’s future depends on AI and cloud technology. The company wants to cut costs, increase productivity, and make sure it doesn’t fall behind its competitors.
