E-commerce behemoth Amazon is cutting hundreds of jobs in order to shift resources to fast growing businesses.
According to CNBC, Amazon will be focusing on cuts at its headquarters in Seattle and will be reducing layers of management.
The Seattle Times first broke the news that Amazon would be laying off the workers and “managing out” others as it consolidates its operations.
One source close to the situation has said that the cuts would affect some employees around the world. Amazon has almost 4,000 corporate jobs currently open in Seattle and 12,000 worldwide.
A spokesperson for the company told CNBC, “As part of our annual planning process, we are making head count adjustments across the company — small reductions in a couple of places and aggressive hiring in many others.
For affected employees, we work to find roles in the areas where we are hiring.”
Amazon is currently looking for a location for its second headquarters and has promised that the city it chooses will receive $5 billion in investment and there will be over 50,000 people employed.
Disclaimer: We have no position in Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.