Amazon announces cutting more than 18,000 jobs

Seems like the New year has started on a bad note for some as the technology giant, Amazon is laying off employees.

Citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic, Amazon announced that it will cut more than 18,000 jobs from its workforce.

The cuts amount to around 6% of the firm's roughly 300,000-strong corporate workforce. In November Amazon said it was starting a round of layoffs but did not give a figure of how many jobs it would cut.

CEO Andy Jassy in a statement said, Some of the layoffs would be in Europe Jassey said, adding that the impacted workers would be informed starting on January 18.