Amazon to lay off thousands of employees: Report

Yahoo Finance's Julie Hyman discusses a New York Times report that Amazon is planning to cut thousands of workers amid a broader slowdown in tech.

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JULIE HYMAN: We have some breaking news now. A new report from the "New York Times" says Amazon is planning to lay off thousands of employees. We will bring you more details when we do get that. But again, that's from the "New York Times." Thousands of employees, following on the news last week that Meta was planning to cut 11,000 jobs from that company and other layoffs--

BRIAN SOZZI: Guess it is just feeding on on itself now. E

JULIE HYMAN: --that we've heard about within the tech industry.

BRIAN SOZZI: If, one-- once one company moved, now you can hide for cover. Once that Meta layoffs happen, I'm not surprised by this.

JULIE HYMAN: Yeah.

BRAD SMITH: And it's a question for the tech employees. Where do you start to look for employment elsewhere if you already know that they're either hiring freezes or just large waves of tech layoffs now taking place at some of the other companies where you would have been in demand for talent? Where do you turn to?

JULIE HYMAN: Yeah.