Amazon deepens tech-sector gloom with another 9,000 layoffs
Washington, The Gulf Observer: Amazon.com Inc. said it would axe another 9,000 roles, piling on to a wave of layoffs that has swept the technology sector as an uncertain economy forces companies to get leaner.
In a remarkable turn for a company that has long touted its job creation, Amazon will have eliminated 27,000 positions in recent months, or 9% of its roughly 300,000-strong corporate workforce.
The latest cuts focus on Amazon’s highly-profitable cloud and advertising divisions, once seen as untouchable until economic concerns led business customers to scrutinize their spending, according to Reuters.
The layoffs will affect Amazon’s streaming unit Twitch as well. Dan Clancy, who was named as CEO of Twitch last week, said the platform will lay off more than 400 employees.
Amazon aims to finalize whom it will terminate in the new round of job cuts by April.
The company’s stock fell 1.8%.
The decision follows a near-endless drumbeat of layoff news in the technology sector that has seen some of the world’s most valuable corporations, among them Microsoft Corp and Alphabet Inc., sever ties with staggering numbers of employees they once courted in droves.
