D.A. Davidson Managing Director and Senior Research Analyst Tom Forte joins Yahoo Finance Live to discuss Amazon layoffs and the broader cutbacks in tech this year.
Yahoo Finance Live’s Julie Hyman reports that Amazon will lay off 9,000 employees in an additional round of job cuts.
E-commerce giant Amazon (NASDAQ: AMZN) is among the organizations slimming down, after growing its workforce from 798,000 at the end of 2019 to 1.54 million by the end of 2022. While the latest round of cuts seems like a small number compared to the size of its overall workforce, it's where Amazon has made these cuts that might be concerning to investors. This round of layoffs will be concentrated across four of Amazon's departments: Amazon Web Services (AWS), advertising, PXT Solutions (People Experience and Technology Solutions), and Twitch.