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Big Tech Crash 2022: Amazon Fires 10,000 Employees, Largest Layoff In Company History

Over the past month, technology companies have laid off tens of thousands of employees. And the momentum in layoffs only appears to be worsening. According to a new report via NYTimes this morning, Amazon could add to the count this week as approximately 10,000 people in corporate and technology jobs will be slashed, in what could be the most significant job cut in the company's history. Amazon would become the latest tech company to reduce headcount. Just in the last few months, Twitter, Facebook parent Meta, ride-hailing company Lyft, software service firm Salesforce, payment platform Stripe, and a growing list of tech companies have announced layoffs of engineers, salespeople, and support staff.

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Big Tech Crash! Twitter Near Bankruptcy, Amazon First Company to Lose $1 TRILLION, Facebook Fires 11,000 Employees

I don't think the technocrats will be developing any "transhumans" anytime soon. On Wednesday this week, Amazon.com became the first publicly traded company in history to lose $1 trillion in market valuation. And then yesterday afternoon, Elon Musk told Twitter employees at an "all-hands meeting" that the company is losing so much money that "bankruptcy is not out of the question." All of this happened after the great cryptocurrency collapse of Tuesday, when the equivalent of a “bank run” happened when crypto exchange FTX saw $6 billion of withdrawals in a 72-hour span, resulting in them stopping the process of withdrawals. The other Big Tech news on Tuesday was that Facebook parent company Meta announced it is slashing more than 11,000 jobs, reducing its workforce by about 13 percent. This follows news that we reported about 2 weeks ago that the Department of Justice has started a probe into Tesla over their claims of having a "self-driving car." At about the same time this news was reported, Ford and Volkswagen announced that they were halting further investments into AI self-driving vehicles, forcing Argo AI, an AV technology startup founded by Uber and Google veterans, to shut down. The Big Technology Crash of 2022 has started, and it will probably make the Dot-com stock market crash of 2001 look like a walk in the park when this crash hits bottom.

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