Amazon Plans To Cut 16,000 Jobs

(RTTNews) - Tech and e-commerce major Amazon.com, Inc. (AMZN) announced Tuesday its decision to cut approximately 16,000 jobs worldwide, with a view to strengthening its organization.

Beth Galetti, Senior Vice President of People Experience and Technology at Amazon, said the firm is offering most US-based employees 90 days to look for a new role internally.

Further, transition support will be provided for those who are unable to find a new role at Amazon or who choose not to look for one. These include severance pay, outplacement services, health insurance benefits, and more.

The company in October had announced plans to strengthen its organization by reducing layers, increasing ownership, and removing bureaucracy.