Amazon CEO says job cuts to exceed 18,000 roles

The layoff decisions, which Amazon will communicate starting January 18, will largely impact the company's e-commerce and human-resources organizations

January 05, 2023 08:51 am | Updated 10:28 am IST

Image for representation

Image for representation | Photo Credit: AP

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 January 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.

Mr. 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. 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 as well as reductions at other tech-industry peers.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.