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Amazon layoffs: Company to cut nearly 18K jobs in Canada, U.

Click to play video: 'When big tech reports job losses, what happens to the people?'

WATCH: When big tech reports job losses, what happens to the people? – Nov 14, 2022

Amazon.com Inc AMZN.O will cut some jobs in the United States, Canada, and Costa Rica by the end of Wednesday as part of its plan to lay off 18,000 employees, the e-commerce giant said in a memo to staff seen by Reuters.

The layoffs are the latest in the U.S. technology sector, with companies cutting their bloated workforce and slashing costs to reverse pandemic-era excesses and prepare for a worsening global economy.

Amazon.com Chief Executive Andy Jassy said earlier this month the cuts, about 6% of the company’s roughly 300,000 corporate employees, would mostly impact the e-commerce and human resources divisions.

Microsoft MSFT.O said earlier on Wednesday it would cut about 10,000 jobs and take a $1.2-billion charge.

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