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Amazon to lay off 18,000 employees; 70% more than previously planned

Amazon to lay off 18,000 employees; 70% more than previously planned

According to The Wall Street Journal, Amazon.com Inc. is laying off 18,000 employees. As the technology slump deepens, it is a significant jump than the previously planned figure i.e 10,000.

In a memo to employees on Wednesday, Chief Executive Officer Andy Jassy announced the layoffs, saying they were part of the company’s annual planning process. The cuts, which began last year, were expected to affect approximately 10,000 employees. The layoffs are concentrated in the company’s corporate ranks, primarily in Amazon’s retail division and human resources functions such as 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 November, the Seattle-based company began layoffs in its devices division, with a source telling Reuters at the time that Amazon was targeting 10,000 job cuts in gadgets, human resources, and retail. According to the Journal, the layoffs are concentrated in the firm’s corporate ranks, citing unidentified people familiar with the situation.

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