Amazon to shed over 18,000 jobs as it cuts costs, CEO says

The technology giant's boss says it wants to cut more than 18,000 jobs.

Andy Jassy told staff that affected workers would be informed from January 18.

The firm has around 300,000 employees.

Amazon didn't give a figure of how many jobs it would cut when it said it was starting a round of layoffs.

Mr Jassy said that they are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support.

He said that Amazon has weathered uncertain and difficult economies in the past.

The firm would communicate with organizations that represent employees where applicable in Europe.

The majority of role eliminations will be in the Amazon Stores operations.

The firm said two months ago that it would focus on cutting expenses.

Amazon halted some of its warehouse expansions after it was warned it had over-hired during the Pandemic.

Some parts of its business have been shut down due to the cancellation of projects like a personal delivery robot.