According to the New York Times, the online retailer plans to lay off 10,000 people in corporate and technology roles as early as this week, in what would be the largest job cuts in the company’s history. The move comes as the company reportedly lost $1 trillion for the year after its stock fell last week. It remains unclear exactly how many jobs will be lost and whether the layoffs will affect only those in the United States or globally. As of Monday morning, the company was trading at $98.81, down 42 percent from the same time last year It doubled its workforce in just two years and poured its huge profits into new projects. But in its quarterly earnings report at the end of September, executives warned investors that its growth may weaken – possibly to the lowest point since 2001 – amid record high inflation. As of Monday morning, the company was trading at $98.81, down 42 percent from the same time last year. Jassy became CEO of the company last year, seeking to cut costs CEO Andy Jassy was already looking for ways to cut costs at the ever-growing tech giant before considering layoffs. After becoming the company’s CEO last year, having previously headed the cloud computing business, he immediately withdrew the proposed warehouse expansion. Among the initiatives Jassy is said to have rejected is Scout, a delivery robot piloted by the company
