Amid “Uncertain Economy”, Amazon confirms cutting 18,000 jobs.

Amid “Uncertain Economy”, Amazon confirms cutting 18,000 jobs.

Amazon Chief Executive Officer(CEO) Andy Jassy announced and confirmed that the company is planning layoffs of over 18,000 employees. This confirmed that the layoffs are significantly large number than the previously planned cut-offs.

The move was announced in a memo to staff Wednesday, saying it followed the company’s annual planning process. The cuts, which began last year, were previously expected to affect about 10,000 people. The reduction is concentrated in the firm’s corporate ranks, mostly Amazon’s retail division and human resources functions like recruiting.

“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” he said. “These changes will help us pursue our long-term opportunities with a stronger cost structure.”

In Wednesday’s memo, Jassy said the company would provide severance, transitional health benefits and job placement to affected workers. The company plans to begin discussing the moves with affected employees on Jan. 18, CEO said.

“Companies that last a long time go through different phases,” Jassy said. “They’re not in heavy people expansion mode every year.”

 

 

 

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