If 2022 was the year the good times ended for these tech companies, 2023 is already shaping up to be a year when people at those companies brace for how much worse things can get.
On Wednesday, Jassy provided a sobering update on that review: Amazon is cutting more than 18,000 jobs, nearly double the 10,000 that had previously been reported and marking the highest absolute number of layoffs of any tech company in the recent downturn. At Amazon and other tech companies, the second half of last year was marked by hiring freezes, layoffs and other cost-cutting measures at a number of household names in Silicon Valley.
In his note to employees this month, Jassy chalked up the need for significant cost cutting at Amazon to “the uncertain economy and that we’ve hired rapidly over the last several years.” Others across the industry have echoed those points, with varying degrees of atonement.
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