Amazon to slash 10,000 corporate and tech jobs – reports November 14, 2022 E-commerce behemoth Amazon is mulling laying off around 10,000 people, it has been reported, amid a torrid slew of tech lay-offs last week. According to a report in The New York Times, redundancies for corporate and technology roles could begin as early as this week, people with knowledge of the matter said. This would mark [...]
Retailers gear up to win battle for Christmas online shopping rush November 1, 2022 Retail giants are battling to entice cash-strapped consumers with a slew of online discounts and sales this year. Spending is expected to slip by up to half on Black Friday this year, against a backdrop of a cost of living crisis, Wunderman Thompson research has forecast. Online retailers are set to benefit from the crunch, [...]
The torrid week for tech continues as Amazon sheds £175bn October 28, 2022 The torrid week for tech continued last night, with Amazon leaving investors bewildered and Apple somehow defying the trend of its Silicon Valley cousins. Amazon shares tumbled as much as 18 per cent on Thursday night, wiping $202bn (£175bn) off its valuation. The major sell-off came after the e-commerce giant warned against weaker consumer spending [...]
Amazon could fork out £900m in compensation over favouring own products October 20, 2022 Amazon could be forced to fork out £900m in compensation after the tech giant was accused of unlawfully favouring its own offers. The collective action lawsuit alleges that Amazon breached competition law and caused tens of millions of Brits to pay higher prices for products by obscuring better-value deals. The lawsuit, which is headed by [...]
Amazon pushes into world of home insurance October 19, 2022 Just when you thought Amazon sold pretty everything, the tech firm announces that it has launched a new home insurance shop. The new offering will allow customers to request and review insurance quotes, select a policy, and then checkout—all on amazon.co.uk The e-commerce giant firm only has three insurers signed up so far, including Ageas [...]
Amazon to invest £300m in UK network to ‘electrify and decarbonise’ October 10, 2022 Amazon is to invest more than £300m in its electric vehicle fleet for the UK in a bid to reduce carbon emissions. The technology and delivery giant announced more than 1billion Euros investment across Europe over the next five years, with a big chunk in Britain to “electrify and decarbonise” its transportation network. While already [...]
Amazon to pay staff £500 cost of living payment as union urges tech giant to do more October 6, 2022 Amazon will make a one-off payment of up to £500 for its hourly paid employees to help them with the cost of living crunch while it attempts to fend off union criticism on pay. Employees will receive two instalments of £250, one this month and one later in December. It comes as Amazon has received [...]
Amazon ups Stateside pay for frontline workers as union pressure mounts in UK September 29, 2022 Amazon has agreed to boost the average pay of frontline workers in the US, adding increasing pressure on the firm this side of the Atlantic to bolster pay. The e-commerce giant said it would boost salaries from $18 to $19 (£16.60 to £17.60) per hour, while transportation teams would earn between $16 and $26 an [...]
Brazil threatens UK with WTO action over new deforestation legislation September 27, 2022 The Brazilian government has threatened to challenge proposed UK deforestation legislation at the World Trade Organisation, documents shared with City A.M. this morning reveal. The proposed legislation seeks to prevent ‘large companies’ in the UK from using products grown on illegally deforested land. When asked to disclose submissions by the Brazilian government to its consultations [...]
Ofcom widens net for Big Tech probe September 22, 2022 Ofcom will be widening the scope of its probe into Big Tech, digging into competition concerns surrounding the cloud services space. The media regulator said this morning that it would launch a market study into the sector to ensure that markets are working well for people and businesses in the UK. Cloud services have exploded [...]