Amazon is reportedly planning to lay off thousands of its workforce, approximately 10,000 in corporate and technology roles starting this week.
As per a media report, the cuts will target Amazon's devices organization, which includes the voice assistant Alexa, as well as its retail division and human resources.
However, the total number of layoffs is yet to be determined, but if it is around 10,000, it would represent about 3 percent of Amazon's corporate employees and less than 1 percent of its global workforce of more than 1.5 million, which is primarily composed of hourly workers.
Amazon will also become the latest technology company to lay off employees, which recently had been fighting to retain.
According to the report, earlier this year, the e-commerce giant more than doubled the cash compensation cap for its tech employees, citing a competitive labor market.
Changing business models and an uncertain economy have resulted in layoffs across the tech industry.
Recently, Elon Musk cut Twitter's headcount in half after purchasing the company earlier this month, and Meta, the parent company of Facebook and Instagram, announced last week that it was laying off 11,000 employees, roughly 13 percent of its workforce.
Moreover, many Indian startups have laid off hundreds of employees in the wake of a decline in funding and investment, including Byju's, Ola, and Unacademy.