Amazon plans to cut more than 18,000 jobs, the largest number in the firm's history, as it battles to save management bonuses costs. The online giant employs 1.5 million people globally and the job losses will come from its consumer retail business and its human resources division.

Boss Andy Jassy blamed the "uncertain economy" for the cuts, saying Amazon had "hired rapidly over several years."

Like many big tech CEO's Jassy claims that he has not taken the decision lightly or underestimate how much they might affect the lives of those who are impacted. However, he spoilt that sentiment somewhat by saying that he had sped up the cuts because one of the firm's employees leaked the cuts externally.

"Companies that last a long time go through different phases. They're not in heavy people expansion mode every year," he added. Although, we would have thought a company which wildly swings between large hiring and firings is not that stable and should have a shred of foresight to avoid mass firings.

Amazon has seen its sales slow after business boomed during the pandemic when customers bored at home spent a lot online, so workers are probably wondering why that money was not set aside for a rainy day. The danger is that the short sighted approach will leave Amazon without workers when business starts to pick up again.

Other big tech firms including Meta - which owns Facebook, Instagram and WhatsApp - and cloud-based business software firm Salesforce have also both recently announced big cuts. Twitter, under the rulership of Elon [look at me] Musk has seen its profits gutted after he fired a huge chunk of its staff. 

Amazon employees affected by the cuts are expected to be told by 18 January.