Current:Home > StocksAmazon is cutting another 9,000 jobs as tech industry keeps shrinking -MoneyMatrix
Amazon is cutting another 9,000 jobs as tech industry keeps shrinking
View
Date:2025-04-16 11:06:59
Amazon is cutting another 9,000 workers, adding to the massive downsizing happening across an embattled tech sector that is uncertain about the economic future.
The layoffs will happen "in the next few weeks," according to CEO Andy Jassy, who announced the cuts in a memo shared with staff and uploaded in a blog post on Monday.
"This was a difficult decision, but one that we think is best for the company long term," Jassy wrote in the memo. He said the layoffs will mostly hit employees in its cloud platform, people's experience department that works with employees, advertising, and the Twitch video service.
Earlier this year, Jassy announced the company would lay off 18,000 workers. Last November he'd said there were eliminations coming and a media report at the time put the expected number of layoffs at closer to 10,000.
The company has also paused construction on its headquarters in Arlington, Virginia, a space that was expected to bring more than 25,000 jobs to the region.
Like other Big Tech companies, Amazon's workforce ballooned during the pandemic, reaching a peak of 1.6 million employees in 2021.
The rapid hiring "made sense given what was happening in our businesses and the economy as a whole," said Jassy on Monday. "However, given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount."
Jassy said the company aims to make final decisions on impacted roles by "mid to late April."
veryGood! (657)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Stock market today: Asian shares meander after S&P 500 sets another record
- How non-shooting deaths involving police slip through the cracks in Las Vegas
- Republican-passed bill removes role of Democratic governor if Senate vacancy occurs in Kentucky
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Glen Taylor announces that Timberwolves are no longer for sale. Deal with A-Rod, Lore not completed
- Jamie-Lynn Sigler, multiple sclerosis and the wisdom she's picked up along the way
- To combat bullying and extremism, Air Force Academy turns to social media sleuthing
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Soccer star Vinícius Júnior breaks down in tears while talking about racist insults: I'm losing my desire to play
Ranking
- Current, future North Carolina governor’s challenge of power
- US changes how it categorizes people by race and ethnicity. It’s the first revision in 27 years
- King Charles III Shares His Great Sadness After Missing Royal Event
- An Oil Company Executive Said the Energy Transition Has Failed. What’s Really Happening?
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Biden administration restores threatened species protections dropped by Trump
- NFL’s newest owner joins the club of taking stock of low grades on NFLPA report card
- Biden fundraiser in NYC with Obama, Clinton nets a whopping $25M, campaign says. It’s a new record
Recommendation
Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
'Shahs of Sunset' star Mike Shouhed accused of domestic violence by former fiancée in lawsuit
SportsCenter anchor John Anderson to leave ESPN this spring
'We will never forget': South Carolina Mother, 3-year-old twin girls killed in collision
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Republican-passed bill removes role of Democratic governor if Senate vacancy occurs in Kentucky
Republican states file lawsuit challenging Biden’s student loan repayment plan
Avril Lavigne, Katy Perry, Meryl Streep and More Stars Appearing at iHeartRadio Music Awards