Amazon CEO Andy Jassy Announces 'Most Difficult Decision' in More Bad News for the Tech Giant Next Year
Other tech companies like Meta, Twitter and Shopify are feeling the same pressure.
Amazon plans to lay off roughly 10,000 employees, sources told CNBC. Some employees were let go earlier this week; voluntary buyouts were also reportedly offered. And the "role eliminations" will continue into the new year, Amazon CEO Andy Jassy said in a memo.
"I've been in this role now for about a year and a half, and without a doubt, this is the most difficult decision we've made during that time…" Jassy wrote. "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."
Those leaders include Mark Zuckerberg and Elon Musk. Earlier this month, Meta laid off 11,000 employees, 13% of its workforce. Musk slashed approximately 3,700 roles, nearly half of Twitter's workforce.
Amazon's own layoffs follow a hiring freeze that was announced on November 2. That freeze is anticipated to remain in place over the next several months, though the company is continuing to hire warehouse workers for the busy holiday season, per CNBC.
Amazon.com, Inc is down 49% year over year.
Entrepreneur Editors' Picks
Online Scams Are More Sophisticated Than Ever. Here's How to Shop Safely on Black Friday and Cyber Monday, According to a Cyber Intelligence Expert.
This Guy Saved Barbie From Cultural Extinction. He Did It by Asking One Big Question.
The Top 5 Hot Franchise Categories for 2023, According to One Industry Expert
Why Can't We Resist Black Friday and Cyber Monday? A Behavioral Economist Explains the Psychological Forces That Make Sales Irresistible.
I Couldn't Sleep. I Obsessed Over My Failures. Then I Found the Weirdest Cure.
This Pitch Scored a $250,000 Investment — But It Almost Didn't Happen
Employees Were Demanded to Go Home. Here's How We Invite Them to Come Back.