Amazon to Cut 30,000 Jobs in Major Layoff Plan

Amazon is preparing to cut up to 30,000 jobs starting Tuesday as part of a major cost-cutting effort, according to three sources cited by Reuters. 

The layoffs come as the tech giant seeks to offset over-hiring that occurred during the peak of the COVID-19 pandemic.

The planned cuts represent a small fraction of Amazon’s global workforce of 1.55 million but account for nearly 10 percent of its roughly 350,000 corporate employees. This marks the company’s largest round of job reductions since it eliminated around 27,000 positions in late 2022.

Over the past two years, Amazon has made smaller workforce reductions across various divisions, including devices, communications, and talk show units.

Sources revealed that the latest round of layoffs will affect several departments, such as human resources, devices, services, and operations. Department heads reportedly received training on Monday on how to handle employee communications following email notifications scheduled for Tuesday morning.

Amazon shares rose by 1.2 percent to 226.80 USD during Monday trading ahead of the company’s third-quarter earnings announcement on Thursday.