Amazon Shutting Down Charity Program In Cost-Adjustment Shift

Amazon is shutting down its charity platform as part of the company’s recent cost-cutting efforts.

According to an AmazonSmile announcement, the program that allows customers to donate a portion of their AmazonSmile purchases to certain non-profit organizations will cease next month. announcement Online retailer

“We are writing to let you know that we plan to wind down AmazonSmile by February 20, 2023,” Amazon. “We will continue to pursue and invest in other areas where we’ve seen we can make meaningful change — from building affordable housing to providing access to computer science education for students in underserved communities to using our logistics infrastructure and technology to assist broad communities impacted by natural disasters.”

Amazon stated that it would support charities that received donations through the program throughout the transition. Amazon said that it would make one-time donations “equivalent to three months of what they earned in 2022 through the program.”

The company’s stock has experienced drops over the past year, with a loss of $1 trillion in market capitalization from its all-time high in 2021, according to The Washington Examiner. Amazon also made some other changes recently, including abruptly closing its Washington Examiner. telehealth service Stopping the construction There are many planned warehouses.

Andy Jassy, Amazon CEO, will be inaugurated on January 4. revealed The company had planned to cut more than 18,000 jobs, most of which were from Amazon Stores and people in its People, Experience and Technology (PXT).

“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so. These changes will help us pursue our long-term opportunities with a stronger cost structure,” Jassy stated.

Amazon isn’t the only technology company to announce cuts in recent weeks. Microsoft is one example. announced It announced this week that 10,000 employees would be being laid off over the next few weeks to help reduce costs. This represents 5% of its total workforce.

According to A.P., the sector saw more than 90,000. report CrunchBase, which includes both small businesses as well as larger corporations such Amazon.

Salesforce announced In response to massive layoffs, the company had to reduce its workforce by 10% earlier in the month.

“As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that,” Marc Benioff, Salesforce’s co-CEO, spoke to employees. “I’m grateful for every single one of you who has contributed to our continued success as a company, and the hard work and sacrifices you have made to generate success for our hundreds of thousands of customers.”