Amazon CEO Andy Jassy said at The New York Times DealBook Summit that the company's cost-cutting review revealed the economy is 'more uncertain' than previously thought.
Amazon CEO Andy Jassy said uncertainty about the economy pushed the company to commence sweeping layoffs, the largest in its history.
Jassy, speaking at The New York Times DealBook conference, said after a wide-ranging review of costs, Amazon leadership "felt like we needed to streamline our costs." Andrew Ross Sorkin speaks with Amazon CEO Andy Jassy during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City.CEO Andy Jassy has been entrenched in a sweeping review of the company's expenses, marked with the largest job cuts in its history, shuttered programs and a pause on warehouse expansion.
Speaking at The New York Times DealBook Summit on Wednesday, Jassy said a monthslong cost-cutting review revealed the economy was "more uncertain" than previously thought, which prompted the company to escalate its efforts to rein in expenses. "We were seeing things that were different from what we've seen before, and we just felt like we needed to streamline our costs," Jassy said.in several divisions, including human resources, and devices and services. The company is expected to cut as many as 10,000 jobs, though the number remains fluid because the decisions are being made on a business-by-business basis.
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