E-commerce giant Amazon’s ongoing layoffs will affect around 18,000 workers, as reported by theverge.
Amazon will have laid off 18,000 people between the November cuts and the ones announced today
Over the past few months, Amazon admitted it was consolidating “some teams and programs” in its hardware and services division, as SVP Dave Limp put it in a November email. However, the company had never officially confirmed the original number. CEO Andy Jassy did tell workers that there would be “more role reductions as leaders continue to make adjustments” in 2023, but until now the company’s been very vague about how many positions are being affected.
In October, Amazon announced that it had returned to double-digit sales growth, thanks to its “biggest Prime Day event ever” in July. It also promised investors that it was making “steady progress” toward cutting costs. On January 3rd, it reported to the SEC that it took out an $8 billion loan to be used for “general corporate purposes.” An unnamed spokesperson told TechCrunch that the company has been using “different financing options to support capital expenditures, debt repayments, acquisitions, and working capital needs” as it navigates an “uncertain macroeconomic environment.”
The company says it’s “working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support.”
