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Amazon To Lay Off 18,000 Employees: Report

Previously, the company announced its plans to lay off 10,000 employees

Amazon To Lay Off 18,000 Employees: Report
POSTED ON January 05, 2023 10:30 AM

The global layoff saga continues in 2023, as the e-commerce giant Amazon Inc announced its plans to cut down 18,000 jobs in the new year to keep its business on profitability track amid the global economic downturn, The Wall Street Journal (WSJ) reported. 

Previously, the company said that it would lay off 10,000 employees. The recent figures are higher than its previously announced plans. 

The reduction is expected to influence Amazon's retail division and human resources functions. 

"Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just over 18,000 roles," CEO Andy Jassy said in a statement.

"We are working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support," he added. 

Some of the layoffs can take place in Europe. The impacted workers will be made aware of their fate by January 18, NDTV reported. 

The global tech sector has witnessed massive upheavals in 2022. Nearly 1,50,000 workers lost their jobs in the previous year. Fearing the recession, big tech giants like Twitter and Meta were seen to cut down employee bandwidth as cost-cutting measures. For instance, after the acrimonious takeover of Twitter by Elon Musk, the company laid off nearly 7,500 employees. Meta also laid off 13 per cent staff. Google also announced its plans to terminate 10,000 low-performing employees. 

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