Amazon sheds 9000 roles at AWS, Twitch , People and Technology, and Advertising

eCommerce and Retail Talk
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https://www.geekwire.com/2023/amazon-is-laying-off-another-9000-employees-read-the-ceos-memo/

Amazon is cutting 9,000 jobs over the next few weeks in its second round of layoffs over the past three months.

In a note to employees posted to the company’s blog, Amazon CEO Andy Jassy said the cuts will mostly affect AWS, PXT (People Experience and Technology), Advertising, and Twitch.

“This was a difficult decision, but one that we think is best for the company long term,” Jassy wrote.

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I think Amazon is uniquely under profitability pressure here compared to its peers. Walmart and Target are in better shape from a net operating margin point of view.

Andy Jassy definitely indicates that the economy is going to be mixed for some time now.