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On January 12, it was reported that U.S. Immigration and Customs Enforcement (ICE) officers shot and killed 37-year-old Ryan Goode during an immigration enforcement operation in Minneapolis on January 7, sparking days of protests across the United States. On January 11, protests entered their sixth day in Minneapolis, New York, Oakland, Atlanta, and other cities. Residents of Minneapolis stated that this forced immigration enforcement by the federal government was tantamount to "terrorism." Other protesters stated that the U.S. governments attacks on immigrants domestically and its imperialist aggression abroad should both be opposed.The onshore yuan closed at 6.9742 against the US dollar at 16:30 on January 12, up 79 points from the previous trading day.Iranian Foreign Ministry Spokesperson: Apart from Switzerland acting as an intermediary, communication channels between Iran and the US special envoy remain open.On January 12th, analysts at Metzler Asset Management noted in a report that domestic politics in Japan are once again putting pressure on the yen. Sources indicate that Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, which could trigger a new general election in February. Analysts stated that although the Prime Ministers Liberal Democratic Party currently holds slightly less seats in the House than the absolute majority needed, polls suggest it may win more seats in the new election. "Market participants may worry that this will lead the government to take further measures to curb prices, thereby reducing the likelihood of a Bank of Japan interest rate hike, and thus putting downward pressure on the yen."British precious metal miners rose, with Hochschild Minerals up 5.9% and Fresnillo up about 5%.

Amazon Will Lay Off Tens of Thousands of Workers

Charlie Brooks

Nov 15, 2022 17:39

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According to a source with knowledge of the matter, Amazon.com Inc. will begin laying off about 10,000 corporate and technical employees this week. This would be the largest decrease in the company's history.


The cuts, which were initially reported by the New York Times, would affect around 3 percent of Amazon's (NASDAQ:AMZNcorp) staff. As Amazon firms evaluate their aims, the precise number may alter, a source told Reuters.


According to the source, the online retailer intends to eliminate positions in its devices division, which manufactures voice-controlled "Alexa" devices and home-security cameras, as well as in its human resources and retail divisions. Uncertainty persisted as to when Amazon will notify its staff.


The drop was attributed to the unpredictable macroeconomic environment in which Amazon and other businesses operate.


The discovery follows a wave of layoffs in the IT industry, which fears a recession after years of rapid expansion. In an effort to reduce expenses, Facebook's parent company, Meta Platforms Inc (NASDAQ:META), announced last week that it would eliminate nearly 11,000 positions, or 13% of its staff.


Amazon, headquartered in Seattle, forecasts a slowdown in Christmas sales growth.


Last month, on a conference call with reporters, Chief Financial Officer Brian Olsavsky reported that the company observed evidence of tighter household budgets for shopping and continued to struggle with high inflation and energy prices.


Since then, it has announced that it will freeze corporate hiring growth for several months.


The Wall Street Journal claimed last week that Amazon's gadgets segment has lost more than $5 billion annually in recent years. According to the article, the company has contemplated whether to focus on new features for Alexa given that some consumers use the voice assistant for a limited number of tasks.


Including warehouse and transportation employment, which increased Amazon's headcount to over 1.5 million on September 30, the projected layoffs represented less than one percent of the retailer's workforce.


This year, Amazon's stock has lost more than 40 percent of its value. Monday afternoon, the price dropped 1.1% to $99.67.

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