(CNN) — Amazon CEO Andy Jassy announced Thursday that he plans to lay off more than 18,000 employees across multiple departments, including stores and human resources.
“Businesses that last a long time go through different phases,” Jassy said in a statement.
The Amazon CEO said in November that the e-commerce giant’s firing process would continue until early 2023.
Multiple media outlets reported in the fall that Amazon planned to lay off about 10,000 employees.
Amazon and other tech companies have sharply increased hiring over the past two years as the coronavirus pandemic shifts consumer habits toward e-commerce.
Now, many tech companies are in the midst of an economic crisis and are laying off thousands of employees as people slip back to pre-pandemic habits and economic conditions deteriorate.
Meta, the parent company of Facebook, recently announced the layoffs of 11,000 employees, the largest layoffs in the company’s history.
Twitter also announced major layoffs after Elon Musk bought the company for $44 billion.
