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Amazon layoffs to extend into 2023

Stock Markets Nov 17, 2022 10:07PM ET
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© Reuters. FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo
 
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(Reuters) - Amazon.com Inc (NASDAQ:AMZN) said on Thursday there would be more role reductions as its annual planning process extends into next year and leaders continue to make adjustments.

"Those decisions will be shared with impacted employees and organizations early in 2023", said Andy Jassy, who became the company's Chief Executive Officer in 2021, in a letter to Amazon employees.

Jassy added the company was in the middle of an annual operating planning review where it was making decisions about what should change in each of its business.

Amazon has not yet decided on how many other roles will be impacted from the move.

The online retailer laid off some employees in its devices group on Wednesday and a person familiar with the matter said the company still targeted around 10,000 job cuts, including in its retail division and human resources.

Amazon layoffs to extend into 2023
 

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Comments (2)
Adamo Nals
Adamo Nals Nov 17, 2022 11:23PM ET
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Actually fair value for Amazon if you do, the math is $11. That’s the problem with this entire market. Every single stock is trading just so far above it’s fair value that Hass to be washed out after 15 years of this garbage.
Vito Tagliano
Vito Tagliano Nov 17, 2022 7:03PM ET
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Amazon doesn’t have anything new. $45-$50 share is coming in my opinion.
 
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