Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
E-commerce multinational company, Amazon, has announced a global restructuring which will cut around 18000 jobs from it's workforce. The layoffs will mostly impact the company’s brick-and-mortar stores, including Amazon Fresh and Amazon Go, and its organisations which handle human resources and other functions. Amazon's CEO Andy Jassy has cited uncertain economic conditions, inflation-related cost pressures and rapid hiring over recent years as the leading reasons for why the company is undertaking the restructuring process.
Where the affected roles are located has not been specified, but Amazon has stated it would communicate with impacted employees 'or where applicable in Europe, with employee representative bodies' from 18 January 2023.
Previous business expansion restructuring events have been recorded for Amazon in 2022, including in Czech Republic (Amazon 2022a-CZ and Amazon 2022b-CZ), Spain (Amazon 2022 - ES), Germany (Amazon 2022-DE, Amazon 2022a-DE, Amazon 2022b-DE), France (Amazon 2022 - FR), Poland (Amazon PL - 2022) and Austria (Amazon AT - 2022).
Update, 21/03/2023;
Amazon has announced it will increase the global job cuts by 9,000, bringing the total number to 27,000. The company has stated that upon completing a second phase of its operating plan, it has determined that due to an uncertain economy and unsustainable recruitment during the pandemic, additional cost saving plans have to be implemented. Locations have not yet been released, however it is already known that web services, people experience and technology solutions (PXT), advertising and video live streaming service Twitch will be the most impacted areas of the company.
Eurofound (2023), Amazon, Internal restructuring in World, factsheet number 108152, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108152.