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  • Writer's pictureBy The Financial District

Amazon To Lay Off More Than 18,000 Workers

Amazon says it plans to lay off more than 18,000 employees as the global economic outlook continues to worsen, Catherine Thornbecke reported for CNN Business.

Photo Insert: Several teams will be affected by the job cuts, including the human resources department and Amazon Stores.

Several teams will be affected, including the human resources department and Amazon Stores, according to a memo from CEO Andy Jassy shared with employees. “Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year,” he said.

Jassy had said in November that job cuts at the e-commerce giant would continue into early 2023.

Multiple outlets reported in the fall that Amazon had planned to cut around 10,000 employees. Amazon and other tech firms significantly ramped up hiring over the past couple of years as the pandemic shifted consumers’ habits toward e-commerce.

Now, many of these seemingly untouchable tech companies are experiencing whiplash and laying off thousands of workers as people return to pre-pandemic habits and macroeconomic conditions deteriorate.

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

Jassy said Amazon’s executives recently met to determine how to slim down the company and prioritize “what matters most to customers and the long-term health of our businesses.”

The layoffs will help Amazon pursue long-term opportunities with a stronger cost structure, Jassy said.

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