New York City CNN — Amazon plans to lay off more than 18,000 workers as the global economy continues to deteriorate.
According to a memo shared with employees by CEO Andy Jassy, several teams will be impacted, including the human resources department and Amazon Stores.
"Long-lasting businesses go through various stages. "They're not expanding by a large number of people every year," he explained.
Jassy previously stated in November that job cuts at the e-commerce behemoth would continue until early 2023. Several news outlets reported in the fall that Amazon planned to lay off 10,000 workers.
Amazon and other tech firms have significantly increased hiring in recent years as the pandemic has shifted consumer habits toward e-commerce.
As people return to pre-pandemic habits and macroeconomic conditions deteriorate, many of these seemingly untouchable tech companies are experiencing whiplash and laying off thousands of employees.
In his memo, Jassy stated that Amazon executives recently met to discuss how to streamline the company and prioritize "what matters most to customers and the long-term health of our businesses.""This year's review has been more difficult due to the uncertain economy and the fact that we've hired rapidly in recent years," he added.
According to Jassy, the layoffs will allow Amazon to pursue long-term opportunities with a lower cost structure. He did, however, describe the cuts as a "difficult decision," noting that he is "deeply aware that these role eliminations are difficult for people, and we don't take these decisions lightly or underestimate how much they might affect the lives of those who are impacted."
He added that the company will begin informing affected employees on January 18.
During the pandemic, Amazon's business initially boomed as consumers relied on online shopping for almost everything.