Tech companies have announced layoffs, hiring freezes and cost cutting efforts amid fears of an economic downturn.
have announced they will slow or temporarily pause hiring altogether. Companies are also looking for ways to cut costs to gird for potential headwinds.
Amazon CEO Andy Jassy has worked swiftly to rein in costs as the company grapples with slowing growth in its core retail business, which still accounts for the lion's share of Amazon's revenue. The retail business enjoyed breakneck growth during the Covid-19 pandemic as consumers avoided trips to physical stores and flocked to online retailers. By early 2022, e-commerce spending began to decelerate, and AmazonJassy has assured investors he's focused on returning to a
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