From Amazon CEO Andy Jassy’s total compensation falling by more than $200 million to Amazon Web Services CEO Adam Selipsky ranking No. 2 in terms of top compensated executives, the Seattle-based technology conglomerate dished out over $120 million to its top six executives in 2022.

Amazon generated $514 billion in sales in 2022, representing an increase of 9 percent ear over year. However, the company reported a net loss of $2.7 billion in 2022, compared to net income of $33.4 billion in 2021.

This past January, Amazon unveiled it would layoff 18,000 employees. That was followed by another layoff round announced in March that cut an additional 9,000 employees, including some job cuts at AWS.

[Related: Andy Jassy’s 5 Boldest Remarks On AWS, Layoffs, Chips And AI]

Andy Jassy’s Message

In a letter to shareholders today, Amazon CEO Andy Jassy said he’s “optimistic” about the company’s future even during this time of uncertainty.

“I’m optimistic that we’ll emerge from this challenging macroeconomic time in a stronger position than when we entered it,” said Jassy in his letter.

“While we have a consumer business that’s $434 billion in 2022, the vast majority of total market segment share in global retail still resides in physical stores (roughly 80 percent). And, it’s a similar story for Global IT spending, where we have AWS revenue of $80 billion in 2022, with about 90 percent of Global IT spending still on-premises and yet to migrate to the cloud,” he said. “As these equations steadily flip—as we’re already seeing happen—we believe our leading customer experiences, relentless invention, customer focus, and hard work will result in significant growth in the coming years. … I strongly believe that our best days are in front of us, and I look forward to working with my teammates at Amazon to make it so.”

It is key to note that AWS executive officers are typically granted stock awards on an every-other-year basis. Because AWS’ total compensation includes the entire fair value stock award granted in that year, without regard to the fact that the grant vests over a number of years, AWS executives’ total compensation will be higher in years in which they receive a grant compared to years in which they don’t receive a grant, according to the filing.

CRN breaks down the six most hghly compensated executives at Amazon in 2022, which were:

Amazon CEO Andy Jassy

Amazon Founder and Chairperson Jeffrey Bezos

Amazon General Counsel leader David Zapolsky

Worldwide Amazon Stores Leader Douglas Herrington

Amazon Web Services CEO Adam Selipsky

Amazon Chief Financial Officer Brian Olsavsky