Home / Business / Your Money / Amazon is laying off hundreds of employees — and it shows the risk Seattle and HQ2 face by hitching their wealth to the tech giant

Amazon is laying off hundreds of employees — and it shows the risk Seattle and HQ2 face by hitching their wealth to the tech giant

AmazonHQSeattleWorking Washington’s Sterling Harders speaks to several hundred protesters outward the Amazon shareholders’ assembly at the Seattle Art Museum in 2012.REUTERS/Marcus Donner

  • Amazon will reportedly lay off hundreds of employees, essentially at its Seattle headquarters.
  • Amazon employs some-more than 40,000 people in Seattle and has radically changed the city over the last decade.
  • The cuts indicate to the risk of a city being too contingent on a singular company, an issue Seattle and whatever city wins HQ2 will face in the coming decades.

 

Amazon is laying off hundreds of employees, essentially at the company’s Seattle headquarters, according to the Seattle Times.

The cuts will essentially impact the company’s sell division. Amazon is America’s second-largest employer with around 566,000 employees as of December. More than 40,000 of those are in Seattle alone.

While the cuts are frequency sweeping, they point to the unsafe position that Seattle, and whatever city wins the foe for the company’s new $5 billion domicile dubbed HQ2, will face in the coming decades. 

Amazon dominates Seattle, sprawling opposite downtown and upsetting locals with embroiled traffic, mountainous housing prices, everlasting construction, and accelerated gentrification.

At the same time, the city has seen an rare mercantile surge, adding 220,000 jobs over the past decade. Many of those jobs have been due to Amazon’s expansion and are high-paying.

But for many Seattleites, they’ve seen this story before. The city was once even some-more dominated by another company — Boeing.

In 1968, Boeing employed some-more than 100,000 people in the Seattle area. By 1971, that series had plummeted to 32,500, heading to an barbarous billboard exclaiming: “Will the last person leaving Seattle spin out the lights.”

While Amazon’s layoffs of a few hundred are nowhere nearby that level, they are a honest sign that pinning a city’s future on the ebbs and flows of a singular company is a unsafe place to be.

I recently spent a day in the Seattle area locals call Amazonia to see how Amazon has influenced the city.

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