Amazon is planning to lay off a significant number of employees in corporate and technology roles beginning this week, according to a report from The New York Times.
The company will be laying off approximately 10,000 employees, the report said.
Amazon's shared were down about 2.5% on Monday.
The majority of the cuts come from its devices and retail divisions, according to the report.
The cuts are expected to be the largest in Amazon's history, and would represent less than 1% of the company's overall workforce.
This report comes after other tech companies have announced plans to reduce their workforce. Last week, Meta announced that it would be laying off more than 13% of its staff, or more than 11,000 employees. Twitter has also laid off approximately half of its workforce since Elon Musk's $44 billion acquisition of the company.
Amazon did not immediately respond to a request for comment.
