Over 18,000 Amazon employees are being laid off, the e-commerce giant announced late on Wednesday, 4 January.
From when? Those who are going to be terminated will know starting from 18 January.
Who all are out? While the company is thinning its herd across teams, the most impacted will be Amazon's Stores and PXT (People, Experience and Technology) Solutions divisions.
But why? The job cuts are a result of "rapid hiring" and "uncertain economy," according to a statement released by Amazon CEO Andy Jassy.
Several tech companies are resorting to layoffs in an attempt to cut down on expenses amid inflation and growing interest rates.
The first round of job cuts by Amazon in November saw 10,000 employees being laid off.
What of Amazon India? Jassy did not mention India by name in his statement.
Yes, but: The e-tailer is looking to axe jobs in the country too, as per reports.
Recently, Amazon pulled the plug on its smaller businesses in India such as its B2B service Amazon Distribution, its food delivery division Amazon Foods, and its edtech undertaking Amazon Academy.
Softening the blow: "We are working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support," Jassy said.
Meanwhile, the tech layoffs haven't stopped at Amazon.
Facebook parent Meta cut 13 percent of its workforce
Snapchat fired about 20 percent of its employees
Twitter let go of about half of its employees
B2B software company Salesforce will be slashing 10 percent of jobs.
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