Amazon.com announced that it will eliminate 9,000 more jobs, adding to the wave of layoffs sweeping the technology sector as unstable economic conditions force companies to downsize. The latest cuts are focused on its highly profitable cloud computing and advertising divisions, which were previously considered untouchable until economic fears prompted clients to scrutinize their spending.
The layoffs will also affect the streaming platform Twitch, with its newly appointed CEO Dan Clancy stating that the platform will lay off over 400 employees. With these cuts, Amazon will have eliminated 27,000 jobs in recent months, or nine percent of its workforce of approximately 300,000 employees, marking a drastic shift for a company that has always prided itself on job creation.
The company's stock fell by 1.8 percent. Amazon aims to complete this new round of job reductions by April.
