By Sam Boughedda
Amazon (NASDAQ:AMZN) is preparing to lay off around 10,000 people in its corporate and technology segments as soon as this week, according to a report by The New York Times on Monday.
The report states that sources told them the job cuts will be concentrated in Amazon's devices unit, retail division, and human resources. The cuts would represent the largest cut in the company's history.
However, the NYT explained that the total number of layoffs "remains fluid," although if it is around the 10,000 mark, it will represent approximately 3% of the tech giant's corporate employees and less than 1% of its global workforce, which includes hourly workers.
If the reports are correct, Amazon will become the latest in a string of big tech companies to lay off staff, joining the likes of Meta Platforms (NASDAQ:META), Twitter, and Snap (NYSE:SNAP).
The NYT added that three people told them Amazon executives met with institutional investors last week, while the company's CEO, Andy Jassy, has been "closely" assessing Amazon's businesses to slash costs quickly.
Amazon is also said to have reduced its headcount by 80,000, mainly through its hourly staff, while it froze hiring in smaller teams in September and halted corporate hiring across the company a couple of weeks ago.