Business & Economy

Amazon Sheds Jobs: E-commerce Giants Confirms Fresh Round of Layoffs.

Amazon has officially started the layoff process within its Music division, continuing a trend of job cuts that have affected more than 26,000 employees in the last year. As reported by Reuters, the recent layoffs were revealed on 8th November 2023, impacting staff across Latin America, North America, and Europe.

The report states that an Amazon spokesperson acknowledged the layoffs without specifying the exact number of affected employees. The spokesperson highlighted that, “the company’s focus on customer needs and the sustained health of their businesses”, stating that “certain positions within the Amazon Music team have been removed. They also emphasized the ongoing commitment to invest in Amazon Music.”

Despite Amazon reporting third-quarter net income exceeding analyst expectations and projecting revenue in line with expectations for the final quarter of the year, there have been no recent mass layoff filings in significant employee hubs like Washington state, California, and New York. This is noteworthy, especially considering the importance of the fourth quarter to Amazon during the holiday shopping season.

Amazon has been quietly reducing its workforce, including positions in its Studios, Video, and Music divisions, during the past month. Amazon Music, which offers podcast content and competes with services like Spotify, YouTube Music, and Apple Music, provides paid subscriptions for unlimited music streaming.

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