Amazon Will Eliminate 9,000 More Jobs In Coming Weeks: The Details

Zinger Key Points
  • Amazon plans to eliminate 9,000 roles in the coming weeks.
  • The news comes just months after the company slashed 18,000 jobs in an effort to improve costs. Inc AMZN announced a fresh round of job cuts Monday that are set to impact about 9,000 workers in the coming weeks.

What To Know: In a new memo to employees, CEO Andy Jassy said Amazon plans to eliminate more workers as it continues to focus on cutting costs. 

"For several years leading up to this one, most of our businesses added a significant amount of headcount. This made sense given what was happening in our businesses and the economy as a whole," Jassy said in the memo.

"However, 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 decision was driven by the company's annual planning process in which it decided to focus on becoming "leaner" while still enabling investments in "key long-term customer experiences."

The layoffs will mainly impact workers in Amazon Web Services, human resources, advertising and the company's Twitch division.

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The news comes just months after the e-commerce giant began cutting 18,000 jobs in what marked the largest layoff yet among big tech firms. The job cuts, which were originally announced in November, aimed to improve the long-term health of the company by strengthening Amazon's cost structure. 

Several teams were impacted, but the majority of role eliminations were focused on Amazon Stores and human resources.

"Not all of the teams were done with their analyses in the late fall; and rather than rush through these assessments without the appropriate diligence, we chose to share these decisions as we’ve made them so people had the information as soon as possible," Jassy said in Monday's memo. 

AMZN Price Action: Amazon shares faced heavy selling pressure in early trading, but buyers are coming back into the name following the job cut news.

The stock was down 1.53% at $97.47 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Amazon.

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