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Amazon will lay off over 18,000 employees as the threat of a recession grows.
According to CEO Andy Jassy, departments that will be impacted will include human resources teams and Amazon Stores. Staff will know where they stand starting January 18.
“Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year,” Jassy said in a memo to staff.
Jassy warned that job cuts would continue to permeate the company after its initial layoffs impacted around 10,000 workers last November.
Overhiring seems to be the biggest culprit in recent tech layoffs, as many of these companies saw sky-high demand during the first few years of the pandemic. However, as demand for tech services slowed, so did business activity.
