After Meta and Twitter, shopping platform Amazon has now planned to cut down jobs of around 10,000 employees this week, as per several media reports. The layoff is said to be one of the largest job cuts in the company's history to focus on the company's devices organization, retail division and human resources, the New York Times reported on Monday, citing people with knowledge of the matter. However, the exact number of job cuts still remains unknown.

Notably, Amazon recorded tremendous profit when the Pandemic was at its peak as consumers flocked to online shopping and companies to its cloud computing services. However, earlier this year Amazon's growth slowed to the lowest rate in two decades and the company faced high costs from decisions to overinvest and rapidly expand. High inflation affected sales of the tech giant to a huge extent, according to New York Times.