Amazon and
Both companies announced the layoffs Wednesday, with Amazon stating 18,000 positions will be cut and
The announcements come as several tech companies have made the decision to eliminate thousands of positions following rapid expansion during the pandemic boom.
Facebook's parent Meta announced in November that it would be laying off more than 11, 000 workers. And
Amazon chief executive
Jassy said that they generally like to speak with those affected by the cuts before making them public but decided to make the announcement after it was leaked to The Wall Street Journal, which was the first to report on the cuts Tuesday.
Jassy said the cuts come amid an uncertain economy and after Amazon hired rapidly over the last few years and that this decision prioritizes the long-term health of the company.
"Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so. These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I'm also optimistic that we'll be inventive, resourceful and scrappy in this time when we're not hiring expansively and eliminating some roles," he said.
"I've been thinking a lot about how we came to this moment," he said. "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that."
He added that the decision to cut jobs comes amid an economic environment that "remains challenging" and as customers "are taking a more measured approach to their purchasing decisions."
Jassy said affected Amazon employees will be contacted starting
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