Amazon Not in Good Condition

Amazon is one of the biggest companies in the world. This great rise of Amazon, which has managed to make a strong name for itself with its successes for many years, has slowed down recently. The company has already started to shrink in recent years. Also See: Becoming an Entrepreneur in the Age of Social Media!

Amazon to Continue Layoffs Until the End of 2023

Large companies in the market are taking more and more precautions against economic fluctuations around the world. Many different companies also prefer layoffs, which are often referred to as a ruthless method, as a precaution against this situation. Amazon is also among these companies. In recent months, the company has been on the agenda with news of layoffs. Amazon CEO Andy Jassy recently sent an e-mail to his staff. According to the message, the company is expected to continue downsizing until the end of 2023. The CEO had recently stated that they had increased recruitment a lot due to the rapid growth in the company's budget. However, it is stated that the company is forced to downsize due to the bad economic situation in the recent past. This is seen as a move that will bring many job losses. Dave Limp, who is also the head of Amazon's hardware division, said that some departments within the company were becoming redundant. Limp plans to merge some departments within the company and close some departments directly. According to a report in The New York Times, a total of around 10,000 workers may face layoffs after the changes in question. In addition to all this, the decline in the Amazon company continues at full speed. The company's market capitalization broke a historic record compared to the summer period of last year and reached 1.88 trillion dollars. However, the current value of the company has declined to around 878 million dollars. This makes the company the first publicly traded company to lose as much as $1 trillion in total value.