The layoffs are expected to focus on the company’s devices business, which includes the Alexa voice assistant, as well as positions in retail and human resources, according to the New York Times. The Monday morning report noted that the cuts could arrive as early as this week.
The Wall Street Journal reported last week that the company had begun a cost-cutting review with an eye toward units that aren’t profitable. Other tech companies, including Snap Inc. SNAP, -0.66%, Shopify Inc. SHOP, -0.86%, Lyft Inc. LYFT, +3.54%, Stripe, and Peloton Interactive Inc. PTON, +6.44%, have announced layoffs of their own in recent months.
The latest batch of quarterly earnings reports showed pressure building across Big Tech. Amazon’s AWS cloud-computing business fell short of growth expectations, and the company offered a disappointing overall forecast for the holiday quarter.
Just amazing, that all these layoffs are set to occur AFTER the elections. I’m sure no one noticed…
Is this the 'cool down' J.Powell was talking about? smh
It’s been announced. You’re behind like usual.
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