Amazon CEO says layoffs will extend into next year

Nov 17, 2022, 6:15 PM | Updated: Nov 22, 2022, 8:16 pm
FILE - The Amazon logo is seen in Douai, northern France, Thursday, April 16, 2020. On Thursday, No...

FILE - The Amazon logo is seen in Douai, northern France, Thursday, April 16, 2020. On Thursday, Nov. 17, 2022, Amazon CEO Andy Jassy said the mass layoffs that began at the company this week will continue into the following year. (AP Photo/Michel Spingler, File)

(AP Photo/Michel Spingler, File)

NEW YORK (AP) — The mass layoffs that began in Amazon’s corporate ranks this week will extend into next year, CEO Andy Jassy said Thursday.

In a note sent to employees, Jassy said the company told workers in its devices and books divisions about layoffs on Wednesday. He said it also offered some other employees a voluntary buyout offer.

“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 (and, we’ve had to make some very tough calls over the past couple of years, particularly during the heart of the pandemic),” Jassy wrote in the memo.

Seattle-based Amazon, which has been cutting costs in various areas of its business in the past few months, is undergoing an annual review process to figure out where it can save more money. Jassy said this year’s review is “more difficult” due to the economic landscape and the company’s rapid hiring in the last several years.

Other tech companies — many of which had gone on hiring binges in the past few years — have also been trimming their workforce amid concerns about an economic slowdown. Among others, Facebook parent Meta said last week it would lay off 11,000 people, about 13% of its workforce. And Elon Musk, the new Twitter CEO, has slashed the company’s workforce in half this month.

On Tuesday, Amazon notified authorities in California that it would lay off about 260 corporate workers at various facilities in the state. The company has not publicly disclosed how many employees it laid off this week across its entire corporate workforce, though some based in Seattle said they’ve also been let go.

Jassy said the company hasn’t concluded how many other jobs will be impacted. He noted there will be reductions in certain divisions as the company goes through the annual review process, which will continue into next year. As they weigh job cuts, he said leaders at the company will prioritize what matters most to customers and the long-term health of the company.

Amazon is offering severance packages for employees who leave the company. But — unlike Meta, for example — it hasn’t publicly provided details of the package.

The company employs more than 1.5 million workers globally, primarily made up of hourly workers.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Currency traders watch computer monitors at a foreign exchange dealing room in Seoul, South Korea, ...
Associated Press

Asian stocks higher ahead of Fed rate decision

BEIJING (AP) — Asian stock markets were higher Wednesday after Wall Street rose ahead of what traders hope will be the last Federal Reserve interest rate hike for some time. Shanghai, Tokyo, Hong Kong and Sydney advanced. U.S. futures declined. Oil prices gained. Traders assume the Fed will announce a rate hike of 0.25 percentage […]
1 day ago
FILE - Abortion-rights protesters project messages to a building during an event sponsored by Susan...
Associated Press

Anti-abortion activists aim to sway GOP White House hopefuls

CHICAGO (AP) — Emboldened anti-abortion activists are looking to the 2024 presidential election as an opportunity to solidify their influence over the Republican Party. Susan B. Anthony Pro-Life America, the most influential group in the anti-abortion movement, is telling each potential GOP presidential hopeful that to win its backing — or avoid being a target […]
1 day ago
FILE - Federal Reserve Chair Jerome Powell speaks during a news conference Wednesday, Dec. 14, 2022...
Associated Press

Powell likely to stress Fed’s inflation fight far from over

WASHINGTON (AP) — Inflation is cooling, and parts of the economy appear to be weakening. But Chair Jerome Powell is likely Wednesday to underscore that the Federal Reserve’s primary focus remains the need to fight surging prices with still-higher interest rates. With financial markets anticipating that the Fed will stop raising rates soon and possibly […]
1 day ago
Containers are seen at the country's largest port, in Busan, South Korea, on Jan. 10, 2023. South K...
Associated Press

South Korea logs record trade deficit as tech demand falls

SEOUL, South Korea (AP) — South Korea logged its biggest monthly trade deficit ever, at $12.7 billion in January, as exports of computer chips and other high-tech items sank and costs for importing oil and gas surged, the trade ministry said Wednesday. The growing shortfall underscored how Russia’s war on Ukraine is straining the global […]
1 day ago
In this image made from a video, Hong Kong Customs officials speak at a press conference in Hong Ko...
Associated Press

Hong Kong bans CBD, forcing businesses to shut or revamp

HONG KONG (AP) — Hong Kong banned CBD as a “dangerous drug” and imposed harsh penalties for its possession on Wednesday, forcing fledging businesses to shut down or revamp. Supporters say CBD, or cannabidiol, derived from the cannabis plant, can help relieve stress and inflammation without getting its users high, unlike its more famous cousin […]
1 day ago
Elon Musk leave the Phillip Burton Federal Building and United States Court House in San Francisco,...
Associated Press

Elon Musk’s Tesla tweet trial delves into investor damages

SAN FRANCISCO (AP) — An Elon Musk tweet declaring he had the financing to take Tesla private in 2018 caused billions of dollars in investor damages after the deal collapsed, according to estimates presented Tuesday at a trial examining the haphazard handling of the buyout proposal. The mind-bending estimates laid out by two experts hired […]
1 day ago

Sponsored Articles

...
Fiesta Bowl Foundation

Celebrate 50 years of Vrbo Fiesta Bowl Parade magic!

Since its first production in the early 1970s, the Vrbo Fiesta Bowl Parade presented by Lerner & Rowe has been a staple of Valley traditions, bringing family fun and excitement to downtown Phoenix.
(Photo via MLB's Arizona Fall League / Twitter)...
Arizona Fall League

Top prospects to watch at this year’s Arizona Fall League

One of the most exciting elements of the MLB offseason is the Arizona Fall League, which began its 30th season Monday.
...
Children’s Cancer Network

Children’s Cancer Network celebrates cancer-fighting superheroes, raises funds during September’s Childhood Cancer Awareness Month

Jace Hyduchak was like most other kids in his kindergarten class: He loved to play basketball, dress up like his favorite superheroes and jump as high as his pint-sized body would take him on his backyard trampoline.
Amazon CEO says layoffs will extend into next year