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Amid the wave of layoffs by companies, online retailer Amazon has said that it is likely to lay off more than 18,000 workers.
According to a public staff note by Chief Executive Andy Jassy, Amazon layoffs will now stretch to more than 18,000 roles as part of a workforce reduction it previously disclosed, Reuters reported.
The layoffs will largely impact the company’s e-commerce and human-resources organizations. Impacted employees will be contacted by the company beginning January 18. The 18,000 people who will be sacked by the company represent 6 per cent of Amazon’s roughly 300,000-person corporate workforce.
Jassy said in the note that annual planning “has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years.”
Amazon reportedly has more than 1.5 million workers including warehouse staff. It began letting staff go in November from its devices division, with a source telling Reuters at the time it was targeting 10,000 job cuts.
Meanwhile, Amazon Inc on Tuesday announced that it had reached an agreement with certain lenders to provide the e-commerce giant an $8 billion unsecured loan.
The term loan will mature in 364 days, with an option to extend for another 364 days and the proceeds would be used for general corporate purposes.
The online retailer has been bracing for likely slower growth, as soaring inflation forces businesses and consumers to cut back spending.
Not just Amazon, even Salesforce said on Wednesday that it plans to lay off about 10 per cent of its employees as part of a restructuring. The company said it is facing an economic downturn as it hired too many people.
In a letter to employees, Salesforce co-Chief Executive Officer Marc Benioff said: “The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions.”
(With inputs from Reuters)
Also Read: ‘We hired too many people’: Salesforce to layoff 10% of employees
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