New Delhi: As tech layoffs continue unabated in 2023, CEOs of Amazon and Google have hinted at more layoffs as the companies continue to evaluate the business. In a letter to the company’s shareholders, Amazon CEO Andy Jassy said he re-prioritised where to spend resources, which ultimately led to the tough decision to eliminate 27,000 corporate roles.
“There are several other changes we have made over the past several months to streamline our overall costs, and like most leadership teams, we will continue to evaluate what we are seeing in our business and move forward adaptively,” The Amazon CEO wrote. ,Also Read: SBI relaunches Amrit Kalash FD scheme: Check interest rate, benefits, and more,
Jesse said the company had to conduct a thorough analysis of each business and invention within the company to determine whether they had strong potential for revenue, operating income, free cash flow and return on invested capital over the long term. ,ALSO READ: Latest FD interest rates 2023 for senior citizens: 6 best banks offering over 8% on 3-year fixed deposits,
Meanwhile, Pichai said the company is “literally looking at every aspect of what we do” in an effort to permanently re-engineer its cost base.
In a recent interview with The Wall Street Journal, the CEOs of Alphabet and Google said: “We’re trying to accomplish this in many different ways. We’re really looking at every aspect of what we do.” And as we said on our last earnings call, we are looking at how to rebalance our cost base in a sustainable manner.”
“We are definitely focused on creating sustainable savings. We are happy with the progress, but there is more work to do,” he was quoted as saying. Google laid off 12,000 employees in January in the first round of layoffs.
Pichai said, “We have decided to reduce our workforce by approximately 12,000 roles. We have already sent a separate email to affected employees in the US. In other countries, the process will take longer due to local laws and practices.” ” in a statement.
Amazon initially eliminated 18,000 positions in January, saying “we completed the second phase of our plan this month, leading us to the reduction of these additional 9,000 roles”.
In March, the e-commerce giant announced layoffs of another 9,000 employees across Amazon Web Services (AWS), Twitch, advertising and HR.