Amazon has stated that it plans to cut thousands of jobs as it battles to save costs during an unstable economic climate.
The online giant, which employs 1.5 million people worldwide, has said it will cut 18,000 from their roster, reports the BBC. They have not stated where the job cuts will come from, but confirmed that it will include Europe.
Most of the job losses will come from its consumer retail business and its human resources division. Boss Andy Jassy has noted that the "uncertain economy" is at fault for the cuts, saying that Amazon has "hired rapidly over several years."
READ MORE: 5 reasons you could get a council tax discount, according to Money Saving Expert
In a memo to staff, Andy said: "We don't take these decisions lightly or underestimate how much they might affect the lives of those who are impacted."
The boss also said that the announcement had been brought forward due to one of Amazon's employees leaking the cuts to the public. He added: "Companies that last a long time go through different phases. They're not in heavy people expansion mode every year."
The company's sales have slowed up considerably since the pandemic ended, as people stop spending money while stuck in their homes.
A combination of a downturn in advertising revenues due to businesses seeking to save cash alongside less spending has hit Amazon hard.
Other big tech firms including Meta - which owns Facebook, Instagram and WhatsApp - and cloud-based business software firm Salesforce have also both recently announced big cuts.
Amazon has already announced that it's cutting back on projects like the Echo (better known as Alexa) and delivery robots - which were nice-to-haves but not actually making money.
The move comes after the technology giant said last year that it would reduce its headcount without saying how many jobs would be cut.
Amazon employees affected by the cuts are expected to be told by January 18, 2023.
READ NEXT:
Iceland recalls popular sweet treat due to two undeclared allergens of peanut and egg
Glasgow NatWest branch to shut at end of month as part of nationwide closures
Tesco Cafe free kids meals warning as scheme set to end within days
Ways to keep your home warm and bills low, according to property expert
Argos shoppers rave over 'bargain' wearable blanket saving them money on heating bills
