After Meta, Twitter and Microsoft, Amazon starts firing employees after record losses

The company's largest campus outside the United States was inaugurated in Hyderabad, India in September 2019. [Photo: Wikimedia/ faismeem]

After Meta, Twitter and Microsoft, Amazon appears to be the latest to lay off staff members in divisions that have not generated a profit this year, Daily Mail reported.

Last week, The Wall Street Journal reported that in order to save money, Amazon is examining its underperforming businesses, including the devices division where Alexa the voice assistant resides. Its shares rose by 11% as a result of this announcement.

Amazon has told certain employees in failing businesses to search for jobs elsewhere inside the company after a months-long evaluation.

According to the WSJ, the business is also taking steps to close teams in industries like robotics and retail and redeploy workers from some teams to more lucrative divisions.

Amazon Robotics AI software engineer Jamie Zhang announced his release from his robotics team in a LinkedIn post.

According to the report, Amazon is carefully analysing its Alexa business and is deciding whether it should focus on attempting to add new capabilities to the voice assistant, which is already featured on a number of Amazon devices.

According to the report, many customers only utilise the device for a limited set of operations, making it more expensive to increase features. The business that houses Alexa has an annual operational deficit of more than $5 billion, according to figures published by the WSJ.

According to a Bloomberg report, a combination of increasing inflation, stricter monetary policies, and disappointing earnings reports caused a historic selloff in the stock this year, making Amazon the first publicly traded corporation in the world to lose a trillion dollars in market worth.

The e-commerce and cloud company’s shares dropped 4.3 percent on Wednesday, lowering its market worth from a record closing of $1.88 trillion in July 2021 to approximately $879 billion.

Pertinently, Meta just let go 11,000 workers, or around 13% of the whole staff as its new owner Elon Musk took the charge.

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