Amazon to Lay Off Thousands of Staff – Source Says is reportedly planning to lay off roughly 10,000 employees starting this week, according to a person familiar with the matter.

As reported by the New York Times, these layoffs would affect around 3% of Amazon’s workforce. A source close to Amazon told Reuters that the exact number could change as different departments reevaluate their top priorities.

The news comes on the heels of a wave of layoffs in the technology sector, which is scared of a recession after years of rapid hiring. Meta, Facebook’s parent company, announced last week that it would cut more than 11,000 positions, or 13% of its staff, in an effort to reduce expenses.

According to the source, Amazon and other corporations are struggling in part because of the current macroeconomic environment.