Amazon says it plans to lay off more than 18,000 employees as the global economic outlook continues to worsen.
\nAs per international media reports, several teams will be affected, including the human resources department and Amazon Stores, according to a memo from CEO Andy Jassy shared with employees.
\n\u201cCompanies that last a long time go through different phases. They\u2019re not in heavy people expansion mode every year,\u201d he said.
\nJassy 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.
\nAmazon and other tech firms significantly ramped up hiring over the past couple of years as the pandemic shifted consumers\u2019 habits toward e-commerce.
\nNow, 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.
\nJassy, in his memo, said Amazon\u2019s executives recently met to determine how to slim down the company and prioritize \u201cwhat matters most to customers and the long-term health of our businesses.\u201d
\n\u201cThis year\u2019s review has been more difficult given the uncertain economy and that we\u2019ve hired rapidly over the last several years,\u201d he added.
\nThe layoffs will help Amazon pursue long-term opportunities with a stronger cost structure, Jassy said. But he called the cuts a \u201cdifficult decision,\u201d noting he is \u201cdeeply aware that these role eliminations are difficult for people, and we don\u2019t take these decisions lightly or underestimate how much they might affect the lives of those who are impacted.\u201d
\nThe company will start informing affected staff from January 18, he added.
\nAmazon\u2019s business initially boomed during the pandemic, as consumers relied on online shopping for just about everything.
\nThis year, however, the company is confronting a shift back to in-person shopping as well as surging inflation that has sharply reduced consumers\u2019 demand.
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