Friday, February 23, 2024
Stock Market

Amazon Layoffs 2024: What to Know About the Latest AMZN Job Cuts

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Amazon (NASDAQ:AMZN) layoffs are in the news Wednesday with the e-commerce giant cutting Health Services jobs as it continues to cut costs.

An internal memo from Amazon shows that it plans to cut hundreds of jobs at its Amazon Pharmacy and One Medical divisions. Employees affected by the layoffs will be able to apply for other roles at the company.

Amazon Health Services Senior Vice President Neil Lindsay said the following in the memo to employees, according to GeekWire:

“As we continue our mission to make health care simpler for customers, we’re realigning some resources to help accelerate our efforts to deliver the best experience for our patients, customers, and members […] Unfortunately, these adjustments will result in the elimination of a few hundred roles within Amazon Pharmacy and One Medical.”

Amazon Layoffs Continue in 2024

Amazon has been announcing layoffs since 2023 as the company deals with the fallout of the Covid-19 pandemic. Hiring increased during that time as more customers turned to online services for their needs. However, there is now decreased demand for those services.

As a result, Amazon has cut more than 27,000 since the start of last year. That includes several layoffs that have already been announced this year. There may be even more layoffs still coming from the company based on current trends.

AMZN stock is up slightly as of Wednesday morning.

Investors looking for all of the latest stock market stories in are luck!

We’re offering up all of the most recent stock market news worth reading about on Wednesday! Among that is what’s happening with Uber (NYSE:UBER), Enphase Energy (NASDAQ:ENPH) and New York Community Bancorp (NYSE:NYCB) stock today. You can find out more on these matters at the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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