Business

Amazon is laying off hundreds of corporate employees

Amazon is laying off hundreds of corporate employees

While most of the cuts will be out of Amazon's Seattle headquarter's but are also cutting employees from its retail stores including the Las Vegas online footwear business Zappos, which recently slashed 30 jobs.

A spokesperson for Amazon said that as part of the company's planning process it does each year, it is making adjustments to head count throughout the company, with small reductions in a few places and aggressive hiring in several others. Amazon said there would be opportunities for redeployment within the company.

Amazon announced on Friday plans to launch its own shipping business, and a pilot program for same-day delivery service for grocery items from Whole Foods stores.

"Accomplish more with less".

Monday's big gain has the retailer well ahead of the benchmark S&P 500, which trades up 1.56%. "Additionally, Amazon now employs more than 17,500 veterans and military spouses across the USA, and plans to hire over 10,000 more by 2021".

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Amazon has been on a hiring spree in recent years, and has about 4,000 open job listings in Seattle. As the company's fortunes have grown, so has the size of its employee base.

Amazon CEO Jeff Bezos touted the success of its voice-assistant software Alexa.

"People are in awful shape", he said. 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.

The firm is also building up units focused on the company's Alexa robot and other devices. "Shipping costs, at almost $20 billion past year, continue to be their biggest challenge". In addition to cuts, Amazon appear to be reducing new hires as fewer hiring positions were advertised compared to last summer, when Amazon had 3,500 job openings. Officials say that move is expected to cost upwards of five billion dollars and bring along with it some 50- thousand jobs.

"We use our performance-management process to recognize talent, help employees develop their skills, and in some cases, make employees aware that they are underperforming", a spokesman said.