Amazon to slash hundreds of jobs from its Seattle HQ

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Amazon has confirmed the layoffs to the Seattle Times and several employees have reportedly already been notified of the job cuts.

Amazon is cutting hundreds of corporate jobs in consumer business at its Seattle headquarters, a person familiar with the matter said Monday.

It now has 3,900 open corporate job listings in Seattle and 12,000 open positions worldwide, which point to the company's "aggressive" hiring plans.

Some sections of the e-commerce giant's business may have grown too rapidly, considering, according to the Times, Amazon's Seattle employees numbered 5,000 eight years ago and now top 40,000. Amazon agreed to buy the high end grocer in a almost $14bn deal in summer a year ago. A report surfaced in December that Amazon sharply cut down hiring, a first sign of its rapid expansion beginning to slow.

"As part of our annual planning process, we are making head count adjustments across the company - small reductions in a couple of places and aggressive hiring in many others", an Amazon's spokesperson said. Amazon's workforce is now 566,000 people. Visit MarketWatch.com for more information on this news.

"Amazon makes rare round of layoffs at Seattle headquarters", USA Today, February 12, 2018.


Shares were up 3.5 percent, trading at 1,386.23 United States dollars, as of 12:50 (GMT). Over the last few months, Amazon [VIDEO] started hiring freezes to slow the number of new hires.

The company has also recently instituted a mandate that managers who oversee other supervisors must have at least four people reporting to them.

"Amazon has a problem right now with overpopulation", said one engineer at the company.

The latest round of layoffs is not unusual for a company like Amazon. When the headquarters is built, the host US city will see investment inflow of no less than $5 billion, with possible job creations that could reach more than 50,000. Officials say that move is expected to cost upwards of five billion dollars and bring along with it some 50- thousand jobs.

Some of the sources said that because the company is seeking space to expand outside Seattle, it's slowing down the hiring process.

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