Amazon to layoff 18K jobs in Canada, US and Costa Rica

Amazon Inc. As part of its plan to lay off approximately 18,000 staff members, AMZN.O will eliminate some jobs by Wednesday’s end in the US, Canada, and Costa Rica, the e-commerce giant said in a memo to employees seen by Reuters.

The layoffs are the most recent in the American technology sector as businesses reduce their overstaffed personnel and cut expenses to rectify excesses from the epidemic era and get ready for a worsening global economy. CEO Andy Jassy stated earlier this month that the reductions, which would affect around 6% of the company’s 300,000 corporate employees, would mostly affect the e-commerce and human resources departments.

Earlier on Wednesday, Microsoft MSFT.O announced it will slash approximately 10,000 positions and record a $1.2-billion charge.