Per CNBC

While Amazon has already let go of 18,000 positions, which carried out from November to January, the company plans to let go of another 9,000 individuals. The layoffs were recently announced in a memo coming from CEO Andy Jassy.

Jassy pointed out that one reason for the layoffs was due to uncertainties that exist in the future. The company CEO said that they plan to go into the year leaner.

Jassy: “The overriding tenet of our annual planning this year was to be leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole,”

The CEO specifically mentioned four segments of Amazon's business that the layoffs are expected to spread through. One of the first segments that is expected to be affected includes the company's cloud computing.

Other aspects of Amazon's business that they expect to be affected by the latest round of layoffs include the human resources, advertising, and Twitch live streaming businesses.

Amazon's CEO said that this comes as the company has just wrapped up its annual budget process' second phase, called OP2.

In November, Goldman Sachs gave a statement regarding the widespread tech layoffs saying they weren't a sign of an impending recession. During the time of the report, Meta had already let go of 11,000 employees while Amazon had only let go of 10,000 jobs.

In January, Amazon HR staffers were already looking for new jobs by placing #OpenToWork on LinkedIn. This came as more of them were worried about losing their jobs.

During that time, Andy Jassy shared how they were still trying to support those that were affected by the job cuts through separation payments. He noted that the decisions weren't easy to make.

See flow at unusualwhales.com/flow.

Other News:

Resources:

CNBC