Amazon is preparing to fire close to 10,000 workers.
This action follows the mass layoffs of thousands of workers at other top tech firms.
Microsoft, Meta, Snap, and Twitter have already implemented layoffs.

Amazon is anticipated to announce job layoffs that might affect close to 10,000 employees, adding to the difficult times in Silicon Valley. Amazon is the latest major tech company to implement layoffs after Microsoft, Twitter, Snap, Meta, and Twitter. Apple and other companies have also reported a decrease in recruiting. Given that the Covid-19-induced acceleration and growth have not kept up, the largest IT businesses are preparing for challenging times to come.

Technology companies, which are typically thought of as big spenders, are now turning to cost-cutting due to talk of a global recession. Here is a list of all the layoffs and turmoil that major tech companies are experiencing.

The New York Times was the first to announce that Amazon would fire 'about 10,000 individuals in business and technical jobs starting as soon as this week.' The Black Friday sale, one of the biggest selling days in the US, is coming up next weekend, and Amazon's announcement comes right before the Christmas shopping season.

The corporation expects these to be the biggest job layoffs ever. Amazon's retail, device, and human resources divisions will probably all have significant effects. Bloomberg previously reported on Amazon's significant cost-cutting measures. As part of the cost-cutting efforts, the corporation had given up on its home delivery robot Scout, according to a report by Bloomberg in October.

It is unknown if the layoffs would be exclusive to the US or if they will also impact other markets. Given that Amazon presently employs 1.5 million people, the percentage of job cuts is not as significant when looking at the whole headcount.

However, this is undoubtedly one of the highest figures reported after Meta's 11,000 job cuts. Nevertheless, given the subpar performance and dismal forecast for the economy, the job losses are not unexpected. Looking at Amazon's third-quarter results, operating income dropped to $2.5 billion from $4.9 billion in the same quarter last year, despite net sales rising 15% to $127.1 billion.

Facebook's parent company, Meta, disclosed intentions to let off 11,000 workers on November 9. This figure represents about 13% of the company's personnel. Following the firings, CEO of Meta Mark Zuckerberg made a lengthy essay in which he accepted responsibility for the same. He, too, attributed the unexpected results to the Covid-19-induced acceleration in IT businesses.

Unemployment was anticipated after Elon Musk bought Twitter. However, the way they were executed has drawn criticism for the billionaire. First, Musk let go of Twitter's CEO Parag Agrawal, CFO Ned Segal, and head of legal, trust, and safety Vijaya Gadde.

On November 4, 2022, there were then widespread layoffs. Twitter employees received an email notifying them of the impending layoffs. Additionally, if an employee was on their way to work, they were instructed to return home. Around 3700 individuals, or about half of the staff, were let go by Musk. Then, on November 14, Platformer revealed that out of Twitter's 5,500 contract workers, 4400 had been let go.

One of the first social media businesses to announce layoffs was Snap, the parent company of Snapchat. In August of this year, it made about 20% of its staff redundant. Before the layoffs, Snap had about 6,400 employees overall. The layoffs had an effect on Zenly's social mapping team as well as departments like mini-apps and games.

Various sources claim that Google has discussed potential job layoffs in internal meetings. But as advertising revenue declines, it is actively looking at cost-cutting alternatives. For example, Google is well known for providing its employees with free lunches and other perks. The corporation has to be 'more entrepreneurial working with greater urgency, sharper focus, and more desire than we've exhibited on brighter days,' Google CEO Sundar Pichai wrote in a July email to staff. The communication also discussed Google's intention to reduce employment. Additionally, the corporation has cut back on staff travel expenses.