The Heritage Foundation’s Andy Puzder speaks on Fox Business Tonight about the sweeping layoffs at Amazon and how the workforce has changed since the COVID-19 pandemic.
Amazon CEO Andy Jassy said on Wednesday that the world’s second-biggest company by revenue has been trying to “rationalize” costs as it navigates the uncertain economic environment.
Speaking at the New York Times’ DealBook summit, Jassy said the economy over the next few years “will test the long-term resolve of many companies.” Many will choose to “quit anything that isn’t their core business,” he added.
Jassy explained that the online retailer is in the process of rationalizing costs in “a number of different areas” while investing in things that it believes will have a long-term impact on the business.
An Amazon truck is seen on a local highway on Cyber Monday near the Amazon fulfillment center in Robbinsville Township in NJ, November 28, 2022. (Reuters/Eduardo Munoz/Reuters photos)
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This is his first public comment since the New York Times first reported earlier this month that Amazon was planning to lay off 10,000 corporate and technology employees.
People familiar with the matter told the Times that the cuts would affect the company’s appliance organization, retail division and human resources department.
Jassy explained Wednesday that while Amazon is doing a lot of things in device organization that it’s “optimistic about,” there are other things they don’t see as “really big needle-movers.”
| ticker | security | Last | change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 96.54 | +4.12 | +4.46% |
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“In those cases, we either shut them down or slowed them down to rationalize them a bit as part of this cost exercise,” he added.
Just before the Times reported on the impending layoffs, Jassy’s people began a cost-cutting audit of the company, people familiar with the matter told The Wall Street Journal.
Worker selects and packs items during Cyber Monday at the Amazon fulfillment center in Robbinsville Township in NJ, November 28, 2022. (Reuters/Eduardo Munoz/Reuters photos)
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Amazon had already warned employees in underperforming units to prepare to look for another job as the company makes cuts amid the uncertain economic environment, sources told the Journal.
Earlier, the company had even instituted a hiring freeze, saying it wanted to “balance our hiring and investments with respect for this economy.”
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