Amazon.com is expected to lay off more than 17,000 workers, far exceeding its original plan. The Wall Street Journal (WSJ) reported.
Job cuts launched last year were previously expected to affect about 10,000 jobs. The WSJ, citing anonymous sources familiar with the matter, said the layoffs were concentrated in the corporate division.
Amazon’s layoff speculation has been going on for months, with the company admitting to over-hiring during the coronavirus pandemic, but an increase in total layoffs puts the company’s prospects at risk. suggests that it has happened.
Shares rose nearly 2% in after-hours trading after the news, with investors reacting favorably to the company’s latest restructuring efforts, which it says will boost earnings.
Original title:Amazon to Cut Thousands More Workers Than Planned, WSJ Says (1)Amazon to Lay Off Over 17,000 Workers: DJ (Excerpt)
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