Amazon To Lay off Another 9000 Employees As Bond Market Predicts Imminent Recession

Amazon is set to slash 9,000 more workers in addition to earlier cuts the e-commerce giant has already made.In a March 20 memo to staff, Amazon CEO Andy Jassy said the latest round is expected to impact Amazon’s cloud computing, advertising, human resources, and Twitch units. This latest round of job cuts follows several cuts made beginning November 2022. So far, more than 18,000 staffers have lost their jobs,& CNBC& reported Recession Risk Looms Large as Bond Markets Price in Steeper Rate Hikes Globally.https://t.co/yvhE8d85qA— Daniel Lacalle (@dlacalle_IA) March 9, 2023 Amazon laid off more employees due to cost streamlining and current economic times. And because of the “uncertainty that exists in the near future,” Jassy said. “The overriding tenet of our annual planning this year was to be leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole,” Jassy said.These layoffs come after the company had a hiring spree during the& covid-19 pandemic. The company’s global workforce increased to more than 1.6 million by the end of 2021, up from 798,000 in the fourth quarter of 2019.The...