Amazon to cut 18,000 jobs

News Summary

  • It isn't even the only one who announced layoffs on Wednesday.What they're saying: Amazon CEO Andy Jassy said the company planned to divulge the cuts later but sped up its announcement after "one of our teammates leaked this information externally."
  • The Wall Street Journal reported on the planned layoffs earlier on Wednesday, saying up to 17,000 jobs might be eliminated.Go deeper: What to expect when your tech firm is downsizing
Amazon notified employees on Wednesday it plans to cut 18,000 jobs amid slowdowns in consumer and corporate spending.Why it matters That figure is the largest layoff at any tech company in recent [+1193 chars]