Amazon will lay off about 10,000 employees earlier this week.
According to The New York Times, jobs will be lost in the company’s corporate and technology divisions.
The cuts are being made in the equipment section of the company that makes the Alexa voice-powered tool; human resources and retail division.
It is estimated that 10,000 employees will be laid off worldwide, although this number has not been announced by the company. That number would represent about 3% Amazoncompany employees, or 1% of its 1.5 million workforce.
The number of employees affected in the UK is still unknown. In July, Amazon claims to create more than 4,000 new permanent jobs in the UK this year.
Last month, the world’s largest online retailer forecast relative weak growth The next three months, during the Christmas period, are usually the busiest.
The lackluster forecast comes at the same time as operating costs rise. Those costs amounted to $355.3 billion (£308 billion) in the nine months to the end of September this year, up from $311 billion (£269.7 billion) in the same period last year.
Shares then fell nearly 20% as inflation and interest costs threatened to eat up profits.
The company will become one of the largest technology companies in the world to cut the number of employees.
Microsoft admitted “structural adjustment” because of it cut about 1,000 jobs last month.
Meta, the owner of WhatsApp, Instagram and Facebook announced last week that they will reduce the number of global employees by more than 11,000 employees as part of a corporate overhaul to drastically cut costs while maintaining a controversial investment in the metaverse.
