Amazon to lay off another 9,000 workers, CEO Jassy memo says

SEATTLE (AP) — Amazon plans to lay off 9,000 more workers this year in addition to previously announced cuts, CEO Andy Jassy said in a memo to employees posted on the company's website on Monday.<br><br>Tech giants have announced a surge in layoffs in recent months as the industry braces for an economic downturn.<br><br>In January, Amazon announced that it was cutting 18,000 jobs. It has also closed physical stores, halted stock buybacks, and cut spending as it works to navigate a gloomier-than-expected economy.<br><br>The company based in Seattle has long been one of the tech industry's largest employers. Former CEO Jeff Bezos had previously envisioned Amazon as a place where workers could spend their entire careers. But the pandemic-era tech hiring spree was followed by a pullback last year as high inflation and interest rates forced the industry to rethink its hyper-growth plans.<br><br>Amazon is also reorganizing its advertising, Twitch and gaming businesses into separate divisions, the memo said.<br><br>Jassy did not specify which departments the job cuts would affect. However, the company said in the memo that it would provide severance packages for employees who are let go, including 12 weeks of pay as a “minimum,” and added that it will continue to recruit for thousands of open roles at the company.<br><br>Amazon shares were down less than 1% by midday on Monday.