The Clap
Amazon (NASDAQ:AMZN) will lay off more than 18,000 employees, significantly more than initially planned in November.
What
In November, Amazon intended to cut its workforce as economic conditions continued to add pressure on the tech giant.
With an economic recession looming larger and larger, Amazon is looking to streamline its business, reversing the overhiring that happened during the pandemic.
So What
Amazon stated that they hired at an unsustainably high pace, employing 1.54 million people at the end of Q3 2022.
The job cuts will aid in improving the cost structure of the company, which will aid in achieving long-term goals.
Now What
Amazon will begin informing employees that will be impacted by the job cuts starting Jan 18.
