Amazon announces fresh round of layoffs, to cut 9,000 jobs in coming weeks
Amazon plans to eliminate 9,000 more jobs in the next few weeks, CEO Andy Jassy said in a memo to staff on Monday. The job cuts would mark the second largest round of layoffs in the company's history, adding to the 18,000 employees the company said it would lay off in January.
Amazon has revealed plans to cut around 9,000 jobs from its cloud services, advertising and Twitch units as recession fears loom. The announcement was made by CEO Andy Jassy via a memo to staff mere weeks after the company laid off around 18,000 employees. Meanwhile, the company will continue to hire in some strategic areas.
CEO Andy Jassy said the company had added substantial amount of staff in the past few years, but the uncertain economy has forced it to choose cost and headcount cuts.
The latest round of cuts came after the second phase of the company's annual planning process was completed this month.
“Some may ask why we didn't announce these role reductions with the ones we announced a couple months ago. The short answer is that not all of the teams were done with their analyses in the late fall; and rather than rush through these assessments without the appropriate diligence, we chose to share these decisions as we've made them so people had the information as soon as possible,” Jassy was quoted as saying by AP.
Earlier this month Facebook's parent company Meta had also announced second round of job cuts. According to reports, the company has already started carrying out the dismissals, starting with 1,500 employees in recruiting and human resources.
According to a Bloomberg report citing people familiar with the matter, Chief Executive Officer Mark Zuckerberg had told employees the economic climate of layoffs and restructuring could last “many years”. While the initial cuts - meta laid off 11,000 people in November last year - had been tied to performance, the more recent cuts were due to financial need and product priorities.
On March 14, Zuckerberg said Meta planned to lay off about 10,000 employees and eliminate 5,000 open roles, but not all of the people who are affected have been notified yet. For instance, layoffs in engineering are scheduled for April.
(With inputs from agencies)
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsCompaniesNewsAmazon announces fresh round of layoffs, to cut 9,000 jobs in coming weeks
First Published:20 Mar 2023, 09:08 PM IST
- Top Gainers
- Top Losers
- 52 Week High