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Amazon Layoffs To Hit Over 18,000 Workers

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Amazon is cutting more than 18,000 workers.

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The biggest reduction in workforce in the history of the company.

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The Chief Executive Officer Andy Jassy announced the move in a memo sent to employees Wednesday.

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He said it was a result of the annual plan process of the company.

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This was the case when cuts were implemented last year and were thought to affect around 10,000 people.

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The cut is concentrated within the company's executive ranks, mainly Amazon's retail division and HR functions, such as recruitment.

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"Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," the president said.

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"These changes will help us pursue our long-term opportunities with a stronger cost structure."

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