[News] Amazon CEO says job cuts will continue into next year



CNN Business
 — 

Amazon CEO Andy Jassy said job cuts at the e-commerce giant would continue into early next year, in his first public remarks since the company began widespread layoffs earlier this week.

“Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments,” Jassy wrote in a letter to staff Thursday. “Those decisions will be shared with impacted employees and organizations early in 2023.”

Jassy said that the company hasn’t “concluded yet exactly how many other roles will be impacted” by the layoffs, but added that “each leader will communicate to their respective teams when we have the details nailed down.”

Amazon confirmed on Wednesday that layoffs had begun at the company, just days after multiple outlets reported the e-commerce giant planned to cut around 10,000 employees this week.

Amazon

(AMZN) and other tech firms significantly ramped up hiring over the past couple of years as the pandemic shifted consumers’ habits toward e-commerce. Now, many of these seemingly untouchable tech companies are experiencing whiplash and laying off thousands of workers as people return to pre-pandemic habits and macroeconomic conditions deteriorate.

Facebook-parent Meta recently announced 11,000 job cuts, the largest in the company’s history. Twitter also announced widespread job cuts after Elon Musk bought the company for $44 billion.

Jassy alluded to the macroeconomic climate in his memo Thursday, saying this year’s annual operating review “is more difficult due to the fact that the economy remains in a challenging spot and we’ve hired rapidly the last several years.”

Jassy said that this is the most difficult decision the company has had to make during his year-and-a-half tenure at Amazon’s helm.

“It’s not lost on me or any of the leaders who make these decisions that these aren’t just roles we’re eliminating, but rather, people with emotions, ambitions, and responsibilities whose lives will be impacted,” Jassy wrote.

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