Amazon is laying off more than 18,000. Morgan Stanley is looking for the company — and the tech industry — to tighten things up even more

Morgan Stanley analysts said they expected the layoffs at Amazon to lead to around $3.6 billion in yearly savings.

Amazon’s plans to lay off more than 18,000 workers are the biggest yet in the tech industry’s most recent wave of job cuts. Morgan Stanley analysts are looking for the e-commerce giant — and the broader tech universe — to rein in costs even more.

The Journal reported that most of the layoffs would come from Amazon’s corporate staff. The 18,000 positions to be eliminated reflect the total amount of those reported and announced by Amazon on Wednesday, as well as those made in November. “We will look to see whether a significant portion of these headcount reductions will still becoming from these more expensive teams,” the analysts said.

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