The Margin: Here are the companies in the layoffs spotlight: Amazon joins Salesforce, Intel, Google, HP, Cisco

by | Jan 5, 2023 | Stock Market

From Amazon to Salesforce, HP, Roku, Beyond Meat, Meta and Twitter, big names across a number of sectors have announced major layoffs in recent months. Amazon Amazon.com Inc.
AMZN,
-2.37%
kicked off the New Year by confirming more than 18,000 job cuts, more than originally expected. “Between the reductions we made in November and the ones we’re sharing today, we plan to eliminate just over 18,000 roles,” Amazon CEO Andy Jassy wrote in a letter to employees on Jan. 4. “Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and PXT [People Experience and Technology Solutions] organizations.”

“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” Jassy added. “These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I’m also optimistic that we’ll be inventive, resourceful, and scrappy in this time when we’re not hiring expansively and [are] eliminating some roles.” Now read: Amazon is laying off more than 18,000 workers. Morgan Stanley is looking for the company — and the tech industry — to tighten things up even more Last year the e-commerce giant confirmed plans to lay off workers in its devices and services business. At that time, The Wall Street Journal reported that Amazon could eventually cut about 10,000 jobs. Analysts at Morgan Stanley are looking for Amazon and other tech companies to continue reining in costs. Salesfo …

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