The news was part of the company's cost-cutting measure, caused by the softening of economic growth amid the slowdown in the tech sector. It appears to be a lot bigger than expected, as it appears to layoff is a little over two months later.
Amazon is one of many tech companies that have announced layoffs amid the recession threats and global slowdown a possible recession, and Amazon said today it would cut 9,000 jobs. The latest cuts will affect workers in its cloud services, advertising and Twitch units. CEO Andy Jassy said in a statement posted on the company's website :
Jassy said the company had added a lot of staff in the past few years, but the uncertain economy has forced it to choose cost and headcount cuts.
Amazon is not alone. Tech giants like Spotify, Google s Alphabet and Nvidia have taken measures to rein in spending. Other companies like Coinbase, Shopify, Netflix, and Twilio have announced layoffs.
Last week, Facebook-owned company Meta announced it would cut 10,000 jobs, just four months after it let go of 11,000 employees, making it the first Big Tech company to announce a second round of mass layoffs.
The global economic downturn that started in the second quarter of 2022 is beginning to have an impact on tech companies. According to Layoffs, at least 502 tech companies have let go of 139,165 tech workers. The data compiled from public reports is used to track tech layoffs, according to a site that has been tracking all tech layoffs.