Amazon told employees Wednesday it would eliminate 18,000 jobs across the company, much more than previously reported as tech companies across the country cut costs and rein in hiring amid concerns about the economy.
CEO Andy Jassy said Amazon had hired rapidly over the last few years as consumers spent wildly online during the isolated years of the COVID-19 pandemic. But fears of a recession and a cutback in consumer spending has forced companies to scale back.
The layoffs will mainly be in the tech giant’s corporate ranks, The Wall Street Journal reported, and represent about 1.2% of the company’s 1.5 million employees.
“This year’s review has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years,” Jassy wrote to employees. “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so.”
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