Mubasher: Giant e-commerce company Amazon on Monday reported laying off hundreds of employees and “managing out” others, aiming to reinforce its growing retail businesses.
These moves, reported initially by the Seattle times, come days after a hiring freeze late 2017, and following several years of significant growth.
Amazon, however, pledged to provide impacted staff with alternative roles, stating that the company would see “small reductions in a couple of places and aggressive hiring in many others".
In 2017, the e-commerce giant saw rapid expansion creating around 130,000 jobs worldwide and adding nearly 90,000 others after its acquisition of Whole Foods.
Amazon’s stock closed Monday higher 3.5% to $1386.2.