Amazon CEO Andy Jassy confirmed that the company plans to lay off more than 18,000 people from its global workforce, Silicon Republic reported.

That figure exceeds the allowable number of 10,000 workers set just last year. The majority of the jobs to be cut are in the company’s retail and PTX (people, experience and technology) divisions. This includes the layoffs Amazon already made in November.

The CEO said affected employees would receive notices on January 18.

“The S-team and I are deeply aware that these role removals are difficult for people, and we do not take these decisions lightly or underestimate how severely they can impact the lives of those affected.”

says Andy Jassy.

“We work to support those affected and provide packages that include severance pay, transitional health insurance benefits and external job placement support.”

He continued.

Jassy said the company’s review for the coming year has been more difficult due to the uncertain economy and the fact that Amazon has been “hiring quickly over the past few years. The CEO said the job cuts will help Amazon pursue long-term opportunities with a stronger cost structure.

However, this is not the only company taking such measures. In recent months, a large number of technology companies have announced layoffs as the sector reacts to the looming recession and problems in the global economy.