Image Courtesy: Unsplash

Amazon Plans to layoff 10,000 employees after losing $1 Trillion

by Financegossips

Largest job Cut

Amazon has announced to lay off nearly 10,000 employees beginning this week. It would be the largest job cut in Amazon's history.

Image Courtesy: Unsplash

Who will get fired?

The company will focus to lessen the number of employees working in: 1. Devices Organization 2. Retail Division 3. Human Resources

Image Courtesy: Unsplash

Why Lay offs?

1. Rising inflation 2. Tightening Money Policies 3. Company's disappointing earnings 

Image Courtesy: Unsplash

What happened to Amazon, recently?

Amazon has lost its ranking among the only 5 companies with trillion-dollar market cap. The remaining list has Apple, Saudi Aramco, Microsoft, and Google.

Image Courtesy: Unsplash

amazon's stock

Recently, Amazon's shares declined by 13%. The Quarter 4 earnings report of Amazon, which was pretty bad, had triggered investors to selloff the shares.

Image Courtesy: Unsplash

What's UP with Bezos?

Jeff Bezos has said that he will donate the majority of his $124 billion wealth in his lifetime. Mr. Bezos is the world's fourth-richest person.

Image Courtesy: Unsplash

Company fact

Amazon is considered the e-commerce giant. In India, Flipkart is its alternative, but Amazon has and will always have the first-mover advantage.

Image Courtesy: Unsplash

Do you know the TOP 7 Crucial Factors that affect stock Prices? If not, read the following in-depth article.