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Amazon announces cutting more than 18,000 jobs

Amazon had already introduced a hiring freeze and halted some of its warehouse expansions, warning it had over-hired during the pandemic

Seems like the New year has started on a bad note for some as the technology giant, Amazon is laying off employees.
Citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic, Amazon announced that it will cut more than 18,000 jobs from its workforce.&nbsp;
The cuts amount to around 6% of the firm's roughly 300,000-strong corporate workforce. In November Amazon said it was starting a round of layoffs but did not give a figure of how many jobs it would cut. CEO Andy Jassy in a statement said, Some of the layoffs would be in Europe Jassey said, adding that the impacted workers would be informed starting on January 18.&nbsp; &nbsp;

Amazon: world’s first company to lose $1 Trillion in market value

Amazon: world’s first company to lose $1 trillion in market value

Amazon lost $1 trillion in market value

It's not just Amazon that's bleeding money, the top five US tech companies by revenue have already lost nearly $4 trillion in market value so far this year

As the rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in Amazon's stock this year, Amazon Inc. becomes the world&rsquo;s first public company to lose a trillion dollars in market value.&nbsp;
Shares in the e-commerce and cloud company fell 4.3%, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak.&nbsp; It's not just Amazon that's bleeding money, the top five US tech companies by revenue have already lost nearly $4 trillion in market value so far this year, thanks to rising inflation and macroeconomic headwinds.&nbsp;

Looking for a job that offers work from home option? Well, then maybe Amazon is for you! 
Andy Jassy, the CEO of Amazon said he company had no plans to mandate that corporate staff members working from home come back to office. 
According to the report by moneycontrol, Jassy acknowledged that some jobs needed more office time than others. Those who are part creative and hardware teams need to work from office more often while engineers mostly work from home, he added.  
According to reports, Jassy said at Wednesday's Code Conference in Los Angeles that Amazon had no plans to mandate corporate staff members to resume work from office. 
 

Amazon has no plans to call its employees to office

Looking for a job that offers work from home option? Maybe tech giant is for you! 

This big tech giant is flexible towards work-from-home

Certain teams tend to be at the office more often, such as hardware or creative units, while others, such as engineers, continue to work largely remotely: Amazon CEO

Looking for a job that offers work from home option? Well, then maybe Amazon is for you!&nbsp;
Andy Jassy, the CEO of Amazon said the company has no plans to mandate that corporate staff members working from home come back to office.&nbsp;
According to the report by moneycontrol, Jassy acknowledged that some jobs needed more office time than others. Those who are part creative and hardware teams need to work from office more often while engineers mostly work from home, he added.&nbsp;&nbsp;
The company had announced in October last year that due to the pandemic situation, it will allow its tech and corporate staffers to indefinitely work remotely, but they will have to come to office when required. &nbsp; The company also said that team managers will decide at what times employees should work from office.

Future-RIL deal on hold; favourable ruling for Amazon

The Future-Reliance deal has been put on hold by a Singapore-based arbitration panel; favourable ruling for Amazon

Amazon Inc has won an interim award against its partner Future Group selling retail business to Reliance Industries after a Singapore-based arbitration panel put the deal on hold.
The e-commerce giant had dragged Future to arbitration after the indebted Kishore Biyani group firm signed pact to sell retail, wholesale, logistics and warehousing units to billionaire Mukesh Ambani's Reliance&nbsp;for ₹24,713 crore.
Amazon had purchased 49% in one of Future's unlisted firms last year with the right to buy into Future Retail Ltd after a period of three years to 10 years. It believes Future Group violated the contract by entering into the deal with rival Reliance.

Reliance offers $20 bn stake in retail arm to Amazon: Reports

Reliance Industries&nbsp;has offered to sell a roughly $20 billion or ₹1.50 lakh&nbsp;crore stake in its retail arm to Amazon Inc

Reliance Industries&nbsp;has offered to sell a roughly $20 billion or ₹1.50 lakh&nbsp;crore stake in its retail arm to Amazon Inc, Bloomberg News reported on Thursday.
The&nbsp;Mukesh Ambani-led conglomerate, which has already raised $20 billion in this year from investors including Facebook and Google, is willing to sell an up to 40% stake in the retail business to Amazon, the report said.
Asia&rsquo;s richest man, Ambani is turning his focus toward retail after successfully building India&rsquo;s top telecom network in less than four years.
Middle East sovereign wealth funds, including the Abu Dhabi Investment Authority (ADIA) and Saudi Arabia's Public Investment Fund (PIF) are also in talks to buy stakes in the retail arm of Reliance Industries, as per a Financial Times report.
ADIA may invest about $750 million, while PIF could funnel as much as $1.5 billion into Reliance Retail.
Private equity firm Silver Lake would also invest ₹7,500 crore&nbsp;or around $1 billion in Reliance Retail, RIL&nbsp;announced on Wednesday.

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