Amazon, Google facing short-term challenges: Mark Mahaney
Evercore ISI senior managing director Mark Mahaney explains why he is lowering his price targets on two Big Tech stalwarts on ‘Varney & Co.’
Amazon announced Monday that it plans to cut an additional 9,000 roles within the next few weeks amid the uncertain economic environment.
The latest workforce reduction will "mostly" impact Amazon Web Services and PXT, which handles human resources, as well as its advertising, and Twitch teams, CEO Andy Jassy said in a Monday blog post.
Twitch is a video service owned by Amazon.
"This was a difficult decision, but one that we think is best for the company long term," Jassy said in the blog post. "However, given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount.
Amazon in January announced it would begin laying off 18,000 employees, the largest round of job cuts in the company's history.
This is a developing story. Check back for updates.
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