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Amazon to lay off 10,000 workers as sales slow

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Amazon is seeing a squeeze in consumer spending

Amazon is expected to lay off 10,000 staff in corporate and technology jobs as the economic downturn hits consumer spending.

The job cuts will focus on the online retailer’s devices unit, which houses voice-assistant Alexa, as well as its retail division and human resources, according to the New York Times, which also said the total number of layoffs is uncertain.

As of the end of last year, Amazon had more than 1.6 million full-time and part-time employees and had recently said it would freeze hiring to corporate workforce for the next few months.

It recently warned of a slowdown in growth, saying consumers and businesses had less money to spend as a result of the rising cost of living.

Amazon follows a number of tech-related companies to announce deep cutbacks. Facebook owner Meta, Twitter and Microsoft are among those that have been hit by the squeeze.

Shares in Amazon, which have lost about 40% of their value so far this year.

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