This is the second round of layoffs for the company in the past six months

Online retailer Amazon has revealed it will be cutting a further 9,000 jobs.

This is the second round of layoffs for the company this year, after axing a total of 18,000 jobs over the past six months.

It’s on the back of a possible economic recession and tightened conditions.

“Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount.” CEO Andy Jassy said in a company memo.

Amazon follows Meta – becoming the second tech giant to announce a second round of cuts.

The layoffs are concentrated on the company’s cloud services, advertising and Twitch units.

This is to help credit flowing households and business

The U.S. Federal Reserve and several other major central banks have announced a co-ordinated effort to boost the flow of U.S. Dollars.

The aim is to keep credit flowing to households and businesses, and improve conditions that are tightening due to rising interest rates.

Market turmoil over the past fortnight has made it harder for investors to borrow money.

Two U.S. banks have failed, while Credit Suisse has been rescued by UBS.

“The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity,” the central banks released in a joint statement.

The two institutions have been discussing it over the weekend, with Swiss financial regulators

Troubled bank Credit Suisse has been rescued by rival UBS in a government-backed deal.

The announcement comes after a weekend of emergency talks between the two banks and Switzerland’s financial regulators.

UBS will pay ₣3 billion Swiss Francs for the 167-year-old institution, and the Swiss National Bank will also provide a liquidity assistance of up to ₣110 billion.

Switzerland’s President Alain Berset says the move was necessary.

“This is one of great breadth for the stability of international finance,” Berset said.

“An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system.”

Switzerland’s Finance Minister Karin Keller-Sutter argues the nation had to take responsibility for what has happened to Credit Suisse over the past few weeks, and help steer the financial situation to steady waters.

“We regret that the bank, which was once a model institution in Switzerland and part of our strong location, was able to get into this situation at all,” Keller-Sutter asserted.

Credit Suisse suffered losses following the failure of two smaller U.S. institutions over the past fortnight.

The UBS Group Chairman says his organisation’s aim will be to stabilise proceedings, for both clients and the markets.

“This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue,” Colm Kelleher declared.

“We have structured a transaction which will preserve the value left in the business while limiting our downside exposure.

“Acquiring Credit Suisse’s capabilities in wealth, asset management and Swiss universal banking will augment UBS’s strategy of growing its capital-light businesses.

“The transaction will bring benefits to clients and create long-term sustainable value for our investors,” Kelleher said.