Amazon.com Inc. is eliminating more than 9,000 jobs, the company announced Monday morning. The retailer's stock is down nearly 2% in Monday morning trading.
According to a memo to staff, Amazon AMZN chief executive Andy Jassy said the cuts would take place over the next few weeks and would affect Amazon Web Services, People Experience and Technology Solutions, advertising and Twitch.
This was a difficult decision, but one that we think is the best for the company long term, Jassy wrote. For several years, most of our businesses added a lot of headcount, according to Jassy. This made sense given what was happening in our businesses and economy as a whole. Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount. The latest layoffs, amid a challenging macroeconomic climate that has claimed tens of thousands of jobs in the tech industry, follow an earlier round at Amazon in November, which affected more than 18,000 employees. Amazon has paused the construction of its second headquarters in Virginia. Amazon is the second Big Tech company this month to announce additional job cuts. In a blog post last week, Mark Zuckerberg, CEO of Facebook parent Meta Platforms Inc., wrote that the social networkworking company would slash 10,000 more employees as it focuses on a year of efficiency. In November, the company said it would cut 11,000 employees, or about 13% of its workforce, in the first layoffs in the company's 18-year history.