Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead



Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News


OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Amazon Cuts Another 9,000 Jobs

E-commerce giant Amazon (AMZN) has announced that it is cutting another 9,000 jobs as it tries to control costs and right size its business coming out of the COVID-19 pandemic.

The latest job cuts are in addition to 18,000 layoffs at the Seattle-based company that were announced last fall, making this the largest round of firings in the company’s history.

Chief Executive Officer Andy Jassy announced the latest workforce reduction internally, saying the cuts would occur in the coming weeks and impact Amazon Web Services, human resources, advertising, and the Twitch livestreaming unit.

Amazon has been laying off mainly corporate workers after a big hiring spree during the pandemic when the company’s online sales exploded.

Several other technology companies have announced staff cuts in the past six months, including Meta Platforms (META), Alphabet (GOOGL) and Microsoft (MSFT).

In all, the U.S. tech sector has cut nearly 100,000 jobs since last October, according to consulting firm Challenger, Gray & Christmas.

Amazon employed 1.54 million people worldwide at the end of 2022.

The majority Amazon workers are hourly employees who pack and ship products in warehouses. The company had 350,000 corporate employees at the end of December last year.

Amazon’s stock has decreased 40% over the last 12 months to trade at $97.71 U.S. per share.