Amazon CEO says layoffs will continue in 2023
Amazon's layoffs could amount to 10,000 jobs amid a wider slowdown in the tech industry
The Heritage Foundation's Andy Puzder discusses Amazon's sweeping layoffs and how the labor force has changed since the COVID-19 pandemic on 'Fox Business Tonight.'
Amazon CEO Andy Jassy told employees in a memo made public on Thursday that layoffs will continue in 2023, writing that the economy is in a "challenging spot" and the e-commerce giant has "hired rapidly" in recent years.
"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 the memo.
"Those decisions will be shared with impacted employees and organizations early in 2023."
Amazon's layoffs will continue in 2023, CEO Andy Jassy told employees on Thursday. (Kazuhiro Nogi/AFP via Getty Images / Getty Images)
The layoffs, which the Wall Street Journal reports could amount to 10,000 jobs, have already impacted the company's Devices and Books businesses.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 197.12 | -1.26 | -0.64% |
| META | META PLATFORMS INC. | 559.14 | -3.95 | -0.70% |
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Jassy, who took over for Amazon founder Jeff Bezos last year, called it the "most difficult decision" that he and his team have had to make.
Amazon's announcement comes amid a larger slowdown in the tech industry, with several companies announcing layoffs in recent weeks.
Facebook parent company Meta announced it is cutting 11,000 jobs this week. (AP Photo/Tony Avelar, File / AP Newsroom)
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Meta, the parent company of Facebook, said last week it would reduce its workforce by about 13%, or 11,000 jobs.
Twitter laid off roughly half of its workforce in early November, soon after Elon Musk closed his $44 billion deal to purchase the social media platform.