Reports: Amazon to Lay Off 10,000 Employees Beginning This Week

Amazon.com is planning to lay off approximately 10,000 employees in corporate and technology roles beginning this week, according to a report from The New York Times, citing people with knowledge of the matter. Separately, The Wall Street Journal also cited a source saying the company plans to lay off thousands of employees. The job cuts will focus on the e-commerce giant's devices unit, which houses voice-assistant Alexa, as well as its retail division and human resources, according to the report, which also said the total number of layoffs remains fluid and could change. The layoffs, which represent about 3 percent of its corporate staff, would be the largest in Amazon's history.

Total Retail's Take: To Amazon watchers, this news isn't surprising. After all, Andy Jassy, the retailer's relatively new CEO, has been in cost-cutting mode lately to preserve cash as Amazon faces slowing sales and a gloomy economy. For example, last month, Amazon announced plans to freeze hiring for corporate roles in its retail business. Also, Amazon shut down its telehealth service earlier this year, as well as shut down all but one of its U.S. call centers, shuttered underperforming brick-and-mortar stores, and is closing, canceling or delaying some new warehouse locations.