Seattle-based tech companies continue layoffs, 'adjustments will be made'

Thousands of workers have been given their pink slips, with others worried they may be next, and Amazon employees will have to wait until next year to find out whether they are on the latest hit list.

“Leaders across the company are working with their teams and looking at their workforce levels, investments they want to make in the future, and prioritizing what matters most to customers and the long-term health of our businesses,”Jassy explained that earlier in the month, positions were cut in the devices and books divisions. He wrote the layoffs will be announced next year.

“It’s not lost on me or any of the leaders who make these decisions that these aren’t just roles we’re eliminating, but rather, people with emotions, ambitions, and responsibilities whose lives will be impacted,” Jassy said. “Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments.

While these cuts are the sector’s largest in history, they don’t seem to be having much impact on the overall employment rate in Washington. The state gained 5,400 jobs in October, according to the October employment report issued by the Employment Security Department.“Morgan Stanley analysts said the large market cap of tech firms and ‘idiosyncratic’ hiring in tech relative to the rest of the labor market have resulted in tech layoffs having an outsized impact on perceptions.”

Source: News Formal (newsformal.com)

Depends on who you believe. Biden that says everything is wonderful, or Jamie Dimond and the business leaders that actually say a lot more pain is ahead

The feds raised interest rates to combat inflation caused by all the “free money” and openly are saying it will be years before it lowered.. this is just starting

Learn to weld.

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