E-commerce giant Amazon planning to lay off 10,000 workers soon: Report

Amazon Inc is planning to lay off about 10,000 people in corporate and technology jobs starting as soon as this week, the New York Times reported on Monday, citing people with knowledge of the matter.

Reports indicate that the retail business, as well as human resources and Amazon's devices segment (e.g. Alexa) , would be hit hard by the layoffs, with the ultimate number of layoffs still up in the air.

After being asked for comment by Reuters, the company has yet to provide a statement.

Amazon had over 1.6 million full- and part-time workers as of December 31, 2021, and it has just announced that it would halt recruiting to its corporate staff for the next few months.

Amazon had previously warned of a growth slowdown during the crucial Christmas season, when it produces the largest sales, since individuals and companies had less money to spend owing to increasing costs.

In preparation for a possible economic crisis, Amazon is the latest U.S. firm to implement severe cutbacks to its employment base.

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Amazon's stock has fallen by over 40% so far this year as part of a wider tech selloff. Its shares momentarily recovered, but were down 2.4% at $98.38 as of the most recent market close.

(With inputs from Reuters)