Amazon eyes further job cuts into next year amid 'challenging' economy

By Yasin Ebrahim 

Investing.com -- Amazon (NASDAQ:AMZN) said Thursday that it would continue to cut jobs into next year amid a "challenging" economy, though stopped short of detailing the extent of the layoffs.

Amazon chief executive Andy Jassy warned of "more role reductions" as the e-commerce giant's annual planning process extends into the new year.

"Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments," Jassy added. "Those decisions will be shared with impacted employees and organizations early in 2023."

The company said it hasn't concluded yet exactly how many other roles will be impacted, though confirmed that there would be reductions in its stores and people, experience, and technology organizations. Recent media reports, however, suggest the company is targeting around 10,000 job cuts.

The announcement of plans for further job cuts followed a decision from Amazon on Wednesday to eliminate positions across its devices and books businesses and initiated a voluntary reduction offer for some employees in its people, experience, and technology organization.