NYT reports Amazon plans to lay off 10,000 people starting this week
Reuters
Amazon
The job cuts will focus on the e-commerce giant’s devices unit, which houses voice-assistant Alexa, as well as its retail division and human resources, according to the report, which also said the total number of layoffs remains fluid.
As of Dec. 31 last year, Amazon had more than 1.6 million full-time and part-time employees and had recently said it would freeze hiring to corporate workforce for the next few months.
The news comes just weeks after Amazon warned of a slowdown in growth for the busy holiday season when it generates the highest sales, saying consumers and businesses had less money to spend due to rising prices.
Amazon is the latest U.S. company to make deep cuts to its employee base to brace for a potential economic downturn.
Last week, Facebook-parent Meta Platforms said it would cut more than 11,000 jobs, or 13% of its workforce, to rein in costs. Others include Elon Musk-owned Twitter
Shares of Amazon, which have lost about 40% of their value so far this year amid a broader tech selloff, briefly pared losses and were last trading down 2.4% at $98.38.
