MASS LAYOFFS AT AMAZON AND TWITTER MAGNIFY BURSTING TECH BUBBLE

American tech companies are purging themselves of their employees at a record rate, leaving employees and families without stability as the holiday season approaches. Amazon announced in a blog post its plans to lay off up to 10,000 employees. According to Forbes, the cuts will primarily focus on money-draining units, such as Amazon voice-assistant Alexa and ebook-reader Kindle. Human resources will also be impacted, indicating that hiring will slow down compared to the aggressive staffing that took place over the last several years. Warehouse workers were also impacted. One documented how the stunning news was delivered.

Elon Musk already laid off half the company’s 7,500 full-time employees on November 4, reportedly cut thousands of contractors last weekend, and fired several employees who had criticized him publicly.
On Wednesday, the offices of Twitter announced they’ll be closed to all employees until Monday, November 21 as the company deals with mass staff walk-outs in response to Musk’s ultimatum to either quit or work in the “extremely hardcore” Twitter 2.0 with “long hours at high intensity.”

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