Not the End of Layoffs, Says Amazon’s (NASDAQ:AMZN) Chief
18 November 2022 - 06:46PM
TipRanks
Amazon (NASDAQ:AMZN) CEO Andy Jassy warned in a note to employees
that the layoffs that started earlier this week will continue into
2023. According to Jassy, Amazon had already sent a heads-up about
the impending layoffs to its devices and books divisions on
Wednesday, where some employees were offered a voluntary buyout
offer. Describing it as one of the most difficult decisions he has
made since his appointment as CEO last year, Jassy emphasized that
this year’s challenges were aggravated by the weak economic
backdrop and last year’s rapid hiring. Earlier this week, about
10,000 employees were laid off as part of Amazon’s cost-cutting
measures.
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