As the holiday season approaches, fears of a deep recession continue to grow, and now the world’s largest e-commerce retailer, Amazon, has started to close several brick-and-mortar locations, shut down warehouses, sharply downsize its headcounts and abandon expansion plans amid declining sales.

The e-commerce retailer has started to tighten its belt, too. Under the command of new CEO Andy Jassy, the company has made some cutbacks, including a hiring freeze and canceled or delayed new projects.

All in all, the company is closing almost 70 retail stores, with 66 of them located in the US. The company also announced that it is scrapping plans to build dozens of warehouse facilities across the United States as sales slow down. In the second quarter, Amazon disclosed plans to reduce its workforce by 99,000 after consumers started to back off from discretionary spending, CNBC said. A couple of weeks ago, the e-commerce behemoth announced that it will start to lay off about 10,000 this month.