Another tech company announces another round of layoffs. This time it’s Amazon. The retail giant announced it will be cutting 18,000 jobs, or close to 6% of its workforce, as a means to cut costs during a possible economic downturn.

This round of layoffs will take place Jan. 18 and will largely focus on eliminating human resources and the company’s “Stores” division, according to The New York Times.

Hourly warehouse workers will not be included in this round of layoffs.

What does Amazon say about the layoffs announcement?

“Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year,” CEO Andy Jassy wrote in a memo to employees on Wednesday.

Tech companies are in crisis, and now Meta joins in job cuts

During the COVID-19 pandemic, tech companies thrived and went on hiring sprees to fulfill demand. Now that the pandemic seems to be winding down, those same tech companies aren’t seeing the same returns and are looking to cut costs.

What other tech companies announced layoffs?

Also on Wednesday, Salesforce announced it would be cutting 10% of its workforce and cutting back on office space, CNN reported.

“I’ve been thinking a lot about how we came to this moment,” Salesforce chair and co-CEO Marc Benioff wrote, per CNN. “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that.”

Meta announced in November 2022 that it would lay off 11,000 workers, which is 13% of its workforce, per BBC.

Why are tech companies slashing workers amid a red-hot U.S. jobs market?
HP to cut 6,000 jobs. Here is a list of all major tech layoffs in November