Amazon Set to Lay off another 18,0000 workers |Big Tech problems

The pandemic created a mirage where workers everyone thought the world would be at home and big tech companies had this in mind too. Amazon with close to 1.5 million staff has now come further down the realization curve that there will be no repetition of the lockdown as they have let go of 1% of their workforce. Amazon was one of the big techs to double their highering rates during the pandemic while Apple only grew by 20%. Apple has not done many layoffs during this period and it is probably because they did not higher so many during the pandemic and the same thing can be said about Salesforce.

During this period of realization, we have seen the value of Amazon.com fall by 48.96% over one year and in 24 hours it has fallen by 1.26%.

Most of the layoffs are coming from its cooperate arm, human resources and online stores.

So far Amazon has cut off close to 6% of its cooperate staff which amounts to 300,000 people without jobs.

With this number, Amazon has outdone other big tech companies like Meta. Meta laid-off 11,000 staff at the end of last year, Twitter laid off about 3,700 Better.com and Peloton together laid off close to 5,800 staff.

At the current rates, nobody knows what the market will look like in the next couple of months. No one can also be sure of their job security or how they are supposed to keep their jobs. If I had to advise anyone working in tech I would say now would be a good time to keep money on the side as you watch the days go by.

The worse part is that the tech companies know it's not your fault but they really can’t keep you.

Could this be more proof that these big tech companies were hoping for a longer lockdown? I certainly can’t imagine that they would be hoping for the opposite. But let me know what you think in the comment section below.

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