Amazon CEO says the company will cut over 18,000 jobs to cut costs.

Amazon’s CEO says the company plans to cut more than 18,000 jobs in order to cut costs.

Affected employees will be notified beginning on January 18, according to chief executive Andy Jassy in a memo to employees.

The layoffs represent about 6% of the company’s roughly 300,000-person corporate workforce.

Amazon is the latest major technology company to announce major layoffs as customers cut back on spending due to the cost of living crisis.

The announcement follows the company’s announcement last year that it would reduce its workforce.

“We are working to assist those affected and are offering packages that include a separation payment, transitional health insurance benefits, and external job placement assistance,” Mr Jassy said.

“Amazon has previously weathered uncertain and difficult economies, and we will continue to do so,” he added.

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