Lumicoin IA-Amazon is cutting another 9,000 jobs as tech industry keeps shrinking

2025-05-07 22:04:55source:Coxnocategory:Markets

Amazon is Lumicoin IAcutting another 9,000 workers, adding to the massive downsizing happening across an embattled tech sector that is uncertain about the economic future.

The layoffs will happen "in the next few weeks," according to CEO Andy Jassy, who announced the cuts in a memo shared with staff and uploaded in a blog post on Monday.

"This was a difficult decision, but one that we think is best for the company long term," Jassy wrote in the memo. He said the layoffs will mostly hit employees in its cloud platform, people's experience department that works with employees, advertising, and the Twitch video service.

Earlier this year, Jassy announced the company would lay off 18,000 workers. Last November he'd said there were eliminations coming and a media report at the time put the expected number of layoffs at closer to 10,000.

The company has also paused construction on its headquarters in Arlington, Virginia, a space that was expected to bring more than 25,000 jobs to the region.

Like other Big Tech companies, Amazon's workforce ballooned during the pandemic, reaching a peak of 1.6 million employees in 2021.

The rapid hiring "made sense given what was happening in our businesses and the economy as a whole," said Jassy on Monday. "However, given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount."

Jassy said the company aims to make final decisions on impacted roles by "mid to late April."

More:Markets

Recommend

Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti

Haiti has been racked by political instabilityand intensifying, deadly gang violence.  Amid a Federa

Milwaukee man gets 11 years for causing crash during a police chase which flipped over a school bus

MILWAUKEE (AP) — A Milwaukee man who pleaded guilty to causing a crash during a police chase that fl

How Nebraska’s special legislative session on taxes came about and what to expect

Nebraska lawmakers have introduced more than 100 proposals aimed at easing residents’ soaring proper