According to the CEO, Amazon will lose over 18,000 workers to reduce costs

According to the CEO of the tech behemoth, Amazon, it plans to eliminate more than 18,000 jobs in order to reduce costs.

The CEO continued by saying that the news had been made earlier “because one of our teammates externally released this information.” The corporation employs about 300,000 people corporately, so the job cuts represent about 6% of that workforce. As people cut back on spending because of the cost of living crisis, Amazon is the latest big tech company to say it will lay off a lot of people.

The action follows the IT juggernaut’s announcement last year that it would reduce its personnel without providing a specific number of job cuts.

Andy Jassy, the CEO of the company did not say where the affected employees worked, but he did say that the company would talk to employee groups “where relevant in Europe.” He also said that “the bulk of role eliminations” would happen on the People, Experience and technology team and in Amazon Stores.