Amazon layoffs: Hundreds of job cuts in Seattle, global offices might follow

Ivan Schwartz
February 15, 2018

However, the report further adds that too much staff at the Seattle headquarters that grew from 5,000 in 2010 to 40,000 people has forced Amazon to take the drastic step. The company's global workforce also numbered 566,000 in the same report, a 66 percent increase from the same time previous year.

Shares of Amazon rose 3.32% to $1,384 per share on Monday following a Seattle Times report suggesting the ecommerce behemoth plans to layoff hundreds of workers, mostly in its consumer retail division.

That's a tiny proportion of Amazon's close to 300,000 USA -based employees, but rare for a company that unlike many, seldom undergoes large cuts.

"For affected employees, we work to find roles in the areas where we are hiring", the online retailer assured.

In December, it was reported that Amazon was sharply cutting down on hiring, the first sign of a slowdown in its rapid expansion over the past few years.

Credit Suisse boss defends bank's role in collapsed trading product
And, while revenues grew, Credit Suisse also reduced costs by 6% between 2017 and 2016. Its stock rose 3% on Wednesday and has outperformed its crosstown.

Trump Blocks Release of Democratic Memo, Cites Security Concerns
Earlier this month after he allowed the public release of the GOP memo , he wrote on Twitter that it " totally vindicates " him. McGhan II says the second memo "contains numerous properly classified and especially sensitive passages" and should be revised.

House Republicans launch investigation into White House's handling of domestic abuse scandal
A senior administration official told the AP that that number could be as high as two dozen. Fox News is told, however, that Kelly is not being pushed out.

This announcement does not appear to be having an impact on Amazon's current search for a second headquarter location.

It is understood Amazon is finding ways to relocate separated personnel, all from the Seattle headquarters of the company, where there will be job openings from within. Visit MarketWatch.com for more information on this news.

Layoffs at the company are rare. Over the last few months, Amazon [VIDEO] started hiring freezes to slow the number of new hires.

The company on Monday had more than 4,000 job listings posted for Seattle, up 23 percent from the multiyear low in January. Along with the cuts, Amazon has now mandated that employees who are responsible for other supervisors, must also have four employees reporting to them. After-hours activity also has the Amazon stock trading in the green. Additionally, hundreds more could possibly be reassigned within the company.

The cuts in its consumer business are expected to be completed in weeks as the firm shifts resources to other fast-growing areas.

Other reports by GizPress

Discuss This Article

FOLLOW OUR NEWSPAPER