According to a newspaper report, Amazon, the world’s largest online mail-order company, is planning the biggest job cuts yet. The group wants to begin cutting some 10,000 jobs this week, the New York Times wrote Monday, citing circles familiar with the plans.
Amazon itself initially did not comment. The group recently employed about 1.5 million workers, so the cuts would affect less than one percent. For the Christmas business, for which Amazon often hires reinforcements, it would be another signal for the abrupt end of the tech boom. A number of companies in the industry have recently announced layoffs.
Decided to stop hiring recently
Amazon already warned investors about a weak last quarter and decided to stop hiring in early November given the increased risks of inflation and recession. The group is under pressure to cut costs following a spending spree during the pandemic. The stock is down more than 40 percent this year.
Bezos wants to donate most of his fortune
Meanwhile, Amazon founder Jeff Bezos has announced that he will be donating most of his wealth to charity. In an interview published Monday with US news channel CNN, the once richest person in the world said that he and his partner Lauren Sánchez would “build the capacity” to donate the money. When asked if he wanted to donate most of his wealth during his lifetime, the 58-year-old replied: “Yes, I will.”
According to the financial magazine “Forbes”, Bezos is currently the fourth richest person in the world with an estimated net worth of more than 120 billion dollars (about 116 billion euros). The founder of Amazon was at the top of the ranking for a long time. However, unlike his ex-wife MacKenzie Scott, Microsoft founder Bill Gates and financial investor Warren Buffett, he has not joined the “Giving Pledge”, by which numerous billionaires have pledged to donate a large portion of their wealth to charity. .
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
