E-commerce behemoth Amazon is reportedly set to impose the largest job cuts in its history on the eve of the holiday season.
The New York Times reports that the company plans to lay off some 10,000 people beginning as soon as this week.
The layoffs would primarily affect technology and corporate positions, particularly those in retail, smart devices and human resources.
The cuts would amount to less than 1% of Amazon’s total workforce of 1.5 million, but about 3% of its corporate staff.
The company famously doubled its workforce amid the pandemic as store-avoiding customers turned to online ordering.
But as the pandemic waned — and inflation soared — the company’s growth suffered.
Amazon has lost a reported $1 trillion in value since Andy Jassy succeeded founder Jeff Bezos as CEO.
The layoffs would be the latest in a series of cuts across the tech sector, including Twitter, Meta, Lyft, Snap and others.