The company told Wall Street that it has tightened its belt in the past and could do so again. Amazon cut 1,500 jobsInc., including hourly workers, in 2001 during the Internet crash, which accounted for 15 percent of its employees at the time. They were also laid off a few hundred corporate employees In early 2018 after another period of rapid expansion.
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Last week, Amazon executives met with institutional investors, according to three people, just as its stock plunged to its lowest level since the early days of the pandemic, Wipe $1 trillion of value Where Andy Jassy He took over as CEO last year.
Mr. Jassy, who previously ran Amazon’s profitable cloud computing business, has been closely scrutinizing the business to cut costs quickly. He initially held back from expanding the supercharged warehouse during the pandemic, then moved on to other parts of the company.
In recent months, Amazon has also closed or scaled back a handful of initiatives, including Amazon Care, its service that provides primary and urgent health care. I failed to find it Enough customers according to Scout, the cooler-sized home delivery bot that powers 400 people. Bloomberg; and Fabric.com, a subsidiary that has sold sewing supplies for three decades.
From April to September, it cut staff by nearly 80,000 people, primarily cutting back on its hourly staff. high drain.
Amazon froze hiring at several smaller teams in September. In October, it stop filling Over 10,000 open roles in the core retail business. Two weeks ago, it froze Corporate recruitment across the company, including the cloud computing division, for the next few months.
The news came so suddenly that recruiters didn’t receive the job candidates’ talking points until about a week later, according to a copy of the talking points seen by The New York Times.
“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”