Amazon, one of the world’s largest e-commerce companies, announced Wednesday that it will be cutting over 18,000 jobs. This is a larger number than the company initially said it would be eliminating last year.
In a memo to employees, CEO Andy Jassy said that the company typically waits to communicate about job cuts until they can speak with the people who are directly impacted. However, because one of their teammates leaked the information externally, they decided to share the news earlier.
Jassy had said in November that job cuts at the e-commerce giant would continue into early 2023. The Wall Street Journal reported on the cuts earlier, which Amazon said pre-empted its planned announcement.
The tech industry has seen a significant ramp up in hiring over the past couple of years as the pandemic shifted consumers’ habits towards e-commerce. However, as the global economic outlook continues to worsen, tech companies are now preparing for an extended economic downturn.
Amazon’s job cuts are part of the company’s efforts to adjust to the changing economic climate. The company has not yet released any further information about the job cuts or the timeline for when they will take effect.
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