The reported layoffs would represent less than 1% of Amazon's global workforce and 3% of its corporate employees.Meta announced last week that it's laying off more than 13% of its staff, or more than 11,000 employees, and Twitter laid off approximately half its workforce in the days following Elon Musk's $44 billion acquisition of the company.But Andy Jassy, who took over as CEO in July 2021, has been in cost-cutting mode to preserve cash as the company confronts slowing sales and a gloomy global economy.In recent months, Amazon shut down its telehealth service, discontinued a quirky, video-calling projector for kids, closed all but one of its U.S. call centers, axed its roving delivery robot, shuttered underperforming brick-and-mortar chains, and is closing, canceling or delaying some new warehouse locations.It marked the first time Amazon's market cap fell below $1 trillion since April 2020, and the report was the second time this year that Amazon's results have been enough to spark a double-digit percentage sell-off."