Amazon and FedEx, two companies that are generally looking to add employees during the holidays, have announced they are going to layoff and furlough workers during the holiday season.
A New York Times report claims Amazon is set to lay off approximately 10,000 employees in human resources, retail, and devices divisions as soon as this week. The layoffs come as Amazon is set to make cost-cutting moves, per an adjacent Wall Street Journal report.
In addition to the cuts, Amazon has also announced a freeze on new hires. “We anticipate keeping this pause in place for the next few months, and will continue to monitor what we’re seeing in the economy and the business to adjust as we think makes sense,” Amazon Senior Vice President of People Experience and Technology Beth Galetti remarked.
Current List of Mass Layoffs:
1. Amazon: Laying of 10,000+ this week
2. Twitter: 50% of workforce
3. Snapchat: 20% of workforce
4. Meta: 13% of workforce
5. Credit Suisse: 5% of workforce
6. Apple: Hiring freeze
7. Disney: Hiring freeze
Unemployment is set to skyrocket.
— The Kobeissi Letter (@KobeissiLetter) November 14, 2022
According to a report from Freight Waves, FedEx Freight is preparing to furlough an unspecified number of drivers beginning in early December.
“Because of our previous experience with furlough and with the incentives we are offering, we are expecting employees to volunteer to meet the business need,” FedEx Freight spokesperson Miranda Yarbro said in a statement.
FedEx to furlough drivers just as Christmas season begins https://t.co/keXg05IqAd
— FOX Business (@FoxBusiness) November 14, 2022
The layoffs from these two companies are particularly troubling given the fact they are happening just before the holidays.
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