Amazon axes 9,000 roles amid financial uncertainty

<strong>Amazon</strong><strong> </strong><strong>axe</strong><strong>s</strong><strong> </strong><strong>9,000 roles</strong><strong> amid financial uncertainty</strong>

Amazon.com has announced it would eliminate another 9,000 roles in its company amid a wave of lay-off in the tech sector due to current financial uncertainty. 

The uncertainty expanded more after Silicon Valley Bank (SVB) was seized by regulators in the US. The Bank was a well-known source for venture debt, as it provides loans to risky early-stage companies.

Currently, most of tech companies are in an uncertain situation amid the current financial crisis. 

Amazon also cut 27,000 positions in recent months.

The latest cuts focus on Amazon’s highly-profitable cloud and advertising divisions, that was deeply affected by consumer spending behavior amid the situation. 

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