Monday, March 20, 2023

Amazon Cutting Another 9000 People Including Web Services And Advertising (AMZN)

Good grief, those were supposed to be the two growth businesses.

From Seattle's own, GeekWire, March 20:

Amazon is laying off another 9,000 employees — read the CEO’s memo

Amazon is cutting 9,000 jobs over the next few weeks in its second round of layoffs over the past three months.

In a note to employees posted to the company’s blog, Amazon CEO Andy Jassy said the cuts will mostly affect AWS, PXT (People Experience and Technology), Advertising, and Twitch.

“This was a difficult decision, but one that we think is best for the company long term,” Jassy wrote.

Amazon in January announced a 18,000-person layoff, the largest in the Seattle company’s history.

“For several years leading up to this one, most of our businesses added a significant amount of headcount,” Jassy wrote. “This made sense given what was happening in our businesses and the economy as a whole. However, given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount.”....

....MUCH MORE