Amazon Inc., the global e-commerce giant, is looking to replace around 500,000 workers with robots by 2033, the New York Times reported, citing internal documents and interviews it reviewed.

Amazon, according to the report, will slow down its pace of hirings, as the company believes automation can avoid 1,60,000 additional jobs by 2027.

The documents, scrutinised by NYT, reveal that Amazon’s robotics team is looking at the automation of 75% of the company’s entire operations. The move could allow the company to save about $12.6 billion from now till 2027, and around 30 cents on every product it delivers to customers.

(This is a developing story)