Amazon set to lay off 10,000 employees as reductions mount: NYT

Quick Take

  • Amazon said it will reduce staff by 10,000 personnel in what would be the greatest number people the company has ever laid off at once.
  • The layoffs come as a number of tech companies restructure in uncertain markets.

Amazon is on the verge of cutting 10,000 positions in what would be the company’s largest mass-firing, representing around 3% of corporate and 1% of global employees, The New York Times reported, citing a person familiar.

The e-commerce giant is trimming in departments including human resources, device organization, Alexa voice assistant. The company’s retail arm may begin to see staff reductions this week, a source close to the matter told the Times. The exact number of employees to be laid off remains subject to change.

November has seen a number of technology and crypto sector companies making cuts amid general economic downturns.

CEO Mark Zuckerberg recently purged 11,000 jobs, 13% of the company’s manpower, on the heels of news that the company’s metaverse division was operating at a $9.4 billion deficit. Zuckerberg took personal responsibility for the cuts.

In the upheaval of Elon Musk's takeover of Twitter, the company also saw massive layoffs, with 50% of the workforce slashed.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

And at least 60 recruiting and onboarding positions at Coinbase were eliminated.

More cuts include:

  • Blockchain gaming developer Mythical Games also tightened its belt to release 10% of its workforce just after top executives, Rudy Koch, Chris Ko and Matt Nutt said they would depart from the firm.
  • For payments firm Stripe, founders Patrick and John Collison bore responsibility for layoffs that affected up to 14% of the company’s workforce, saying that the company had overhired.
  • Dapper Labs reduced staff by 22% as NFT sales slumped, down 25% in volume between September and October, CryptoSlam said.
  • Galaxy Digital is set to let go between 15% and 20% of staff as the company faces “macroeconomic headwinds.”

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Jeremy Nation is a senior reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.


To contact the editors of this story:
Michael McSweeney at
[email protected]
Christiana Loureiro at
[email protected]