“While we are making progress in executing our strategy, our headcount and expenses have outpaced the growth of our business,” Chief Executive Jamie Iannone said in a letter to employees.
For this reason, they want to merge and consolidate certain teams in order, among other things, to better meet the needs of customers around the world. In addition to the job cuts, the company also plans to reduce the number of contracts within its workforce in the coming months, Iannone added.
Last February, the online retailer announced that it would lay off 500 employees worldwide, which corresponded to four percent of the total workforce. The job cuts follow a wave of layoffs in the U.S. tech industry after it hired heavily during the pandemic.
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