Amazon to cut 9,000 additional jobs

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STORY: Online retail behemoth Amazon on Monday said it would cut 9,000 more jobs…

making it the latest Big Tech company to announce a second round of layoffs in the face of a possible recession.

In a remarkable turn for a company long touting its job creation, Amazon will have eliminated 27,000 positions in recent months, or 9% of its corporate jobs... 

The move comes as other tech giants are also slashing jobs after a pandemic-led hiring spree…

Microsoft, Salesforce, Alphabet, and Facebook-parent Meta have all cut their payrolls in recent months.

Amazon follows Meta in becoming the second bellwether to announce a second round of cuts.

In a statement posted on the company’s website, CEO Andy Jassy wrote (quote):

"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.”

The cuts will be concentrated in Amazon’s cloud services, advertising and Twitch units.

Amazon last month said operating profit may continue to slump in the current quarter, hit by the financial impact of consumers and cloud customers clamping down on spending. Sales from its lucrative cloud-computing division slowed during the fourth quarter.

Shares of Amazon were down over 2% in early trading.