Amazon Inc, worldly well-known E-commerce, has announced that it is set to lay off around 14,000 managerial jobs during the first fiscal of 2025 as the company is planning to focus on cost savings. The reports regarding the same were published by the news portal Financial Express.
Around 13 percent of the workforce will be reduced after this massive layoff, and the company will reportedly save between ₹210 crore and ₹360 crore annually. Currently, the company is having around 1,05,770 managers and after the layoff the amount will be reduced to 91,936.
However, the layoff update has not been confirmed by the E-commerce firm. As of now, Amazon has not replied to any query or question related to the same.
What does Amazon plan for job cuts?
Amazon in January 2025 has asked some of its managers to take on more team members, reduce the hiring of senior executives, and cut wages of certain employees, as reported by Business Insider.
Prior, in September 2024, Amazon's chief executive Andy Jassy had stated that one of his goals by the end of March 2025 is to increase the number of individual employees compared to managers by 15 percent. The report added that this amendment looks to trim management levels, speed up decision-making, and “cut down bureaucracy”.
The move is likely to bring about sweeping changes to the Amazon management structure and potentially lead to layoffs affecting thousands of corporate workers.
Before the Tuesday session on Wall Street, Amazon's stock was down 1.28% at $193.36, compared to $195.74 at the price close of the previous US market.