Tech Giant Now Confirms It Is Laying Off Hundreds

A tech giant now confirms it is laying off hundreds of employees in its physical stores technology and sales and marketing units.

Most of Amazon’s cuts are in training and certification, and sales operations, per Geek Wire.

“We’ve identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact,” an Amazon Web Services spokesperson said in a statement.

“We didn’t make these decisions lightly, and we’re committed to supporting the employees throughout their transition to new roles in and outside of Amazon.”

Amazon’s AWS unit has seen its sales growth decelerate in recent quarters as companies trimmed their cloud spend amid rising interest rates, per CNBC.

Amazon executives expressed some optimism in February when they said the market is starting to show signs of a reacceleration.

The cuts to AWS’ store technology team come after Amazon said it would remove cashierless checkout systems in its U.S. Fresh stores.

The AWS unit includes teams overseeing the cashierless tech, called Just Walk Out, as well as its Dash smart carts and Amazon One palm-based payment technology.

In 2022, the store technology team was moved out of Amazon’s retail group and folded into its cloud computing division.

The AWS spokesperson said the company decided to make cuts to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores.”

Amazon continues to trim its headcount after more than a year of mass layoffs.

Beginning at the end of 2022 and continuing through 2023, Amazon initiated the largest layoffs in its history, cutting more than 27,000 jobs across almost every area of the company.

So far this year, Amazon has laid off employees in its Twitch, Audible, Buy with Prime, and Prime Video and MGM Studios units.

Employees in the U.S. will continue to receive their pay and benefits for at least 60 days, and they will be eligible for a severance package.

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Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - Tech Giant Now Confirms It Is Laying Off Hundreds.
Market News Today – Tech Giant Now Confirms It Is Laying Off Hundreds.

A massive retailer is now closing a location after 20 years and is having a liquidation sale of up to 50% off.

Time is ticking for the Walmart in Townson, Maryland which is shuttering its doors for good on April 5, reports The-Sun.

After 20 years as the anchor location at the Towson Place Shopping Center, the store is closing due to underperformance.

Deals and discounts are as high as 50% off on some merchandise.

Located about eight miles north of downtown Baltimore, the store shares the center with competitors Ollie’s Bargain Outlet and Target.

The store is known for its unique two-floor design which was once the Montgomery Ward.

Walmart said its reasons for closing include “financial performance, location, and customer needs,” according to local CBS affiliate WJZ-TV.

An estimated 207 employees will be able to transfer to a different location and keep their positions.

Employees have until June 14 to transfer, or they’ll be given a severance package, according to a Walmart release.

The news comes amid an announcement by Walmart that it is closing at least 5,000 stores not meeting expectations.

And shoppers are making the most of the store’s fire sales.

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Also Read: Four Massive Companies Are Now Laying Off in South Carolina

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Market News Today - Tech Giant Now Confirms It Is Laying Off Hundreds.
Market News Today – Tech Giant Now Confirms It Is Laying Off Hundreds.

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