Amazon job cuts to continue into next year

Amazon has said it will axe further job roles in 2023.

The news follows an announcement by the e-commerce giant earlier this week, which revealed that it plans to lay off around 10,000 staff.

The move marks the largest set of job cuts in Amazon's history.

On Wednesday the company said it would axe a number of job roles across its devices and books businesses and revealed it was introducing a voluntary reduction offer for some employees in its people, experience, and technology organisation (PXT).

“Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments,” said Amazon chief executive Andy Jessy in a statement.

The company has not decided on how many other roles will be cut, but there will be reductions across its PXT and stores organisations.

This represents the latest spate of job cuts from BigTech firms. Facebook owner Meta last week cut 11,000 staff while one of Elon Musk’s first actions as owner of Twitter was to cut around half of its 7,500 staff.

Platformer also reports that Twitter has cut 4,400 of its contract workers.

Amazon was one of the biggest winners out of the Covid-19 pandemic as house-bound consumers avoided physical retail locations.

However, much like other pandemic winners like Netflix, the post-pandemic period has been less kind to Amazon, with the company’s growth slowing to its lowest rate in two decades earlier this year.

Last month, the company warned of a further slowdown in growth for the upcoming holiday season in a move which wiped nearly 20 per cent – over $200 billion – off its valuation overnight.

"Amazon has weathered uncertainty and difficult economies in the past, and we will continue to do so," continued Jessy. "We have big opportunities ahead, both in our more established businesses like Stores, Advertising, and AWS, but also in our newer initiatives that we’ve been working on for a number of years and have conviction in pursuing (e.g. Prime Video, Alexa, Kuiper, Zoox, and Healthcare)."

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