: Amazon confirms layoffs, becoming latest tech powerhouse to slash roles

by | Nov 16, 2022 | Stock Market

Amazon.com Inc. confirmed plans to lay off workers in its devices and services business Wednesday, becoming the latest large technology company to eliminate jobs amid a shaky economic climate. Dave Limp, senior vice president for the e-commerce giant’s devices and services business, announced in a Wednesday post to its corporate site that Amazon
would “consolidate some teams and programs,” meaning that “some roles will no longer be required.” He didn’t specify in the post how many roles would be affected.

“We notified impacted employees yesterday, and will continue to work closely with each individual to provide support, including assisting in finding new roles,” Limp said. “In cases where employees cannot find a new role within the company, we will support the transition with a package that includes a separation payment, transitional benefits, and external job placement support.” The cuts follow a “deep set of reviews” into the company’s priorities, according to the post. The Wall Street Journal reported that Amazon could ultimately cut 10,000 jobs. Amazon reported employing 1.54 million employees in its most recent quarterly earnings report last month. See also: Venture capital investors see an ‘R’ word coming for tech — and it isn’t just recession Amazon’s move to eliminate jobs is the latest sign that Big Tech isn’t immune to the economic storm threatening the broader economy. The company’s powerhouse …

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