Amazon layoffs: The company plans to lay off thousands of workers, the New York Times reports

CNN business

Amazon plans to lay off about 10,000 workers in business and technology jobs, the New York Times reported on Monday, citing anonymous sources with knowledge of the matter.

The job cuts could begin as early as this week, and will likely include employees who work on Amazon ( AMZN ) devices (such as its voice assistant Alexa), as well as people in its retail and human resources divisions, according to the report. “The total number of layoffs remains light,” the report said.

Amazon did not immediately respond to CNN Business’ request for comment on Monday. CNN could not independently confirm the report. The Wall Street Journal also reported Monday that Amazon will lay off thousands of workers, citing a person familiar with the matter.

The news would make Amazon one of a string of tech companies that have announced significant layoffs in recent weeks amid broader economic uncertainty and a sharp slowdown in demand seen during the pandemic that led many tech giants to quickly add workers. Last week, Facebook parent Meta announced it was laying off 11,000 workers.

Earlier this month, Amazon said it was freezing corporate hiring “for the next few months,” citing economic uncertainty in recent years and “how many people we’ve hired.” Amazon quickly grew its workforce as the pandemic shifted consumer habits and spending toward e-commerce. In its latest earnings report, however, Amazon forecast that its holiday quarter revenue would be weaker than analysts expected.

Amazon shares are down more than 40% so far in 2022 amid a broader market decline.

The news of the potential layoffs comes at a crucial time for the retail industry ahead of the holiday shopping season. Despite recession fears and inflationary pressures, the National Retail Federation predicts sales growth of 6% to 8% over last year during the holiday shopping months.

Last month, Amazon founder Jeff Bezos tweeted about the prospect of a recession, saying, “the odds in this economy are telling you to cut back.” In an interview with CNN’s Chloe Melas on Saturday, Bezos said the advice was aimed at business owners and consumers. “Take the risk off the table,” he said. “Just a little bit of risk reduction can make a difference.”