Published: Thu, February 15, 2018
Markets | By Noel Gibbs

Amazon to cut workforce in Seattle

Amazon to cut workforce in Seattle

The cuts were first reported by the Seattle Times, which said the actions are focused on streamlining the firm's consumer retail business.

Though the online player still has aggressive growth plans, including a second headquarters that will employ 50,000 workers, Amazon is now eliminating hundreds of jobs, according to the Seattle Times.

However there is no indication of which specific teams will be affected and whether or not this will affect Amazon employees in the UK.

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For example, the fast growing market of voice services with Alexa has required a recruitment drive by the USA based online retailer and internet services company.

Amazon now employs about 40,000 people in Seattle, and 560,000 worldwide.

Amazon is cutting back on the number of employees on its Seattle operation. For the employees affected, the company works trying to find new roles in areas where hiring is taking place. Amazon shares are up 18.5% in 2018, and 67.5% in the past year, compared to the S&P 500's 0.6% loss this year and 14.7% gain over the past year. Amazon also had the smallest number of open positions from August to December of a year ago, making it the slowest hiring four-month period for Amazon in King County, according to CNBC.

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Amazon employed about 566,000 full-time and part-time employees at the end of 2017, according to its latest annual filing. Amazon had implemented hiring freezes in recent months across several groups, a move that reduced the company's open job listings in Seattle to their lowest level in years. Currently, Amazon has over 12,500 open corporate jobs available-and thousands more at its warehouses.

Last year, Amazon created 130,000 jobs worldwide, not including at Whole Foods stores.

The change in Amazon's hiring plan comes as the ecommerce giant seeks a location for its second headquarters.

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The cuts come as the company is drumming up support for its second headquarters, dubbed HQ2.

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