Amazon's new round of layoffs affects Seattle, involving 1,400 people

Amazon (AMZN.US) announced this week that it will cut approximately 16,000 jobs, with about 1,400 located in Seattle and another 700 in nearby Bellevue. Relevant information has been submitted to state and local governments.

This round of layoffs continues the action taken in October last year, when Amazon had already cut over 2,000 positions in the region. Amazon's management stated that the layoffs would help reduce management levels and simplify the bureaucratic structure.

However, the series of layoffs has deepened market concerns about the ongoing slump in Seattle's tech industry. Data shows that last year, the four cities within the Seattle commuting area collectively lost nearly 13,000 jobs, marking the first annual negative job growth since the 2009 financial crisis, not accounting for the pandemic year of 2020