EconomyEditor's PickAmazon CEO says job cuts to exceed 18,000 roles

January 5, 2023
REUTERS

Amazon.com Inc’s layoffs will now stretch to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday.

The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company’s e-commerce and human-resources organizations, he said.

The cuts amount to 6% of Amazon‘s roughly 300,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent.

Jassy said in the note that annual planning “has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years.”

Amazon has more than 1.5 million workers including warehouse staff, making it America’s second-largest private employer after Walmart Inc WMT.N. It has braced for likely slower growth as soaring inflation encouraged businesses and consumers to cut back spending and its share price has halved in the past year.

It began letting staff go in November from its devices division, with a source telling Reuters at the time it was targeting 10,000 job cuts.

In number, its layoffs now surpass the 11,000 job cuts at Facebook-parent Meta Platforms Inc META.O as well as reductions at other tech-industry peers. – Reuters

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