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Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Jassy, in his memo, said Amazon’s executives recently met to determine how to slim down the company and prioritize “what matters most to customers and the long-term health of our businesses.” Now, many of these seemingly untouchable tech companies are experiencing whiplash and laying off thousands of workers as consumers return to pre-pandemic habits and macroeconomic conditions deteriorate. Several teams were affected, including the human resources department and Amazon Stores, according to a memo from CEO Andy Jassy shared with employees earlier this month.Īmazon and other tech firms significantly ramped up hiring over the past couple of years as the pandemic shifted consumers’ habits toward e-commerce. Amazon said it will continue to “pursue and invest in other areas where we’ve seen we can make meaningful change,” including charities that help with natural disaster relief and affordable housing.Īmazon recently announced it would lay off roughly 18,000 employees. The company isn’t completely shying away from donations, however. Maja Hitij/Getty ImagesĪmazon will lay off more than 18,000 workers A worker pushes a cart laden with ordered items among shelves at an Amazon warehouse on Novemin Brieselang, Germany.