Amazon’s Significant Layoffs Hit Nearly 700 Jobs in NYC: State Report
Amazon recently announced substantial layoffs affecting its New York City operations. According to New York State Department of Labor records, approximately 660 corporate employees were terminated in Manhattan.
Details of the Layoffs
The layoffs were concentrated across nine office locations in the city. The most significant cuts occurred at two primary sites:
- 450 W. 33rd St.: 233 layoffs
- 424 Fifth Ave.: 182 layoffs
The Fifth Avenue location, where Amazon has established its New York Tech Hub, was formerly the Lord & Taylor flagship store, acquired for $1 billion in 2020.
Context and Implications
Wedbush Securities analyst Dan Ives remarked on the nature of the layoffs, indicating that a majority affects technology roles. “New York City was not spared,” he stated, as the tech industry faces significant shifts.
Amazon has been streamlining its corporate structure. Earlier statements revealed plans to eliminate 14,000 positions as part of a broader restructuring effort aimed at enhancing organizational efficiency. This move follows a recent announcement of a total of 30,000 job reductions, impacting about 9% of its global office workforce.
Future Layoffs and Employee Impact
These layoffs do not extend to warehouse or delivery positions. Furthermore, reports suggest additional job cuts may occur in January after the holiday shopping period.
Since Andy Jassy assumed control of Amazon in 2021, the company has reduced thousands of positions. Current estimates indicate that around 2,000 employees work within the iconic Lord & Taylor building, highlighting Amazon’s significant presence in the city.
Distribution of Job Cuts
Details of the layoffs at various office locations include:
- 410 Tenth Ave.: 91 layoffs
- 7 W. 34th St.: 58 layoffs
- 330 W. 34th St.: 41 layoffs
- 237 Park Ave.: 38 layoffs
- 315 Park Ave. S.: 9 layoffs
- 215 Park Ave. S.: 7 layoffs
- 6 W. 35th St.: 1 layoff
Overall, many are puzzled by the decision to reduce roles amid strong company performance. Senior Vice President of People Experience, Beth Galetti, emphasized the impact of transformative AI technologies, explaining the need for rapid innovation.
