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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 254.00+4.0%9:30 AM EST
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From: Julius Wong11/14/2022 11:16:27 AM
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Amazon plans to lay off about 10K employees - NYT

Nov. 14, 2022 11:12 AM ET
Amazon.com, Inc. (AMZN)
By: Kevin P. Curran, SA News Editor

Sundry Photography/iStock Editorial via Getty Images

Amazon (NASDAQ: AMZN) is set to layoff thousands more employees, according to the New York Times.

Citing people with knowledge of the matter, the outlet indicated layoffs will be targeted among corporate and technology roles. Hiring had previously been paused in these areas while the company reviewed potential cost cutting measures and reassessed unprofitable ventures. Within these divisions, the Alexa devices organization, human resources, and retail departments are expected to see the bulk of pink slips. Total workforce reductions could reach about about 10K employees, or roughly 3% of total corporate employees.

Employees due to be let go are expected to receive notification starting this week, according to the report.
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