Even Amazon isn’t immune to the worsening economy.

As the global economy remains in the grips of inflation and potential recession, even the largest, most powerful companies have been forced to cut back and save. Even Amazon, giant of both the retail and tech sectors, is not immune to the downturn of the economy, and has begun enacting cost-cutting measures, starting with staff.

Amazon layoffs: Company to lay off more than 18,000 workers https://t.co/pHDE4yOXHj pic.twitter.com/DzwQD3L2f1

— Eyewitness News (@ABC7NY) January 5, 2023

Amazon announced this week that they will be laying off over 18,000 employees from its various departments around the world. The primary departments that will be affected by these layoffs include human resources, Amazon Stores, and more.

“Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year,” Amazon CEO Andy Jassy said in an employee memo.

Jassy had previously said near the end of 2022 that large-scale layoffs would be enacted, though the original layoff estimates were around 10,000.

The layoffs planned at Amazon represent the single largest number of jobs cut at a technology company since the industry began aggressively downsizing last year. https://t.co/KL0qQAjo3k

— NPR (@NPR) January 5, 2023

Jassy and the other members of the Amazon board are currently in the process of trimming their operating costs in order to focus on “what matters most to customers and the long-term health of our businesses.”

“This year’s review has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years,” he added.