Amazon earnings are out. Here's why stock is soaring.
Digest more
Amazon CEO Andy Jassy says the company’s latest big round of layoffs — about 14,000 corporate jobs — wasn’t triggered by financial strain or artificial intelligence replacing workers, but rather a push to stay nimble.
Amazon chief executive Andy Jassy’s explanation for why the company is cutting 14,000 employees? Not money. Not even AI, but “culture.”
Amazon said on Oct. 28 that it is cutting thousands of corporate jobs. What does this mean for its Floridian employees?
After unexpectedly strong sales and profits across its consumer and cloud businesses, the tech giant said another strong quarter might be ahead.
The job cuts come as Amazon CEO Andy Jassy has said he envisions the company relying on AI agents to replace human workers.
Amazon has faced pressure from investors to tighten its finances as it spends big on the AI race. The company says it will cut 14,000 jobs, citing a goal of "reducing bureaucracy, removing layers."
Amazon says that it will cut an estimated 14,000 jobs from its corporate workforce as it focuses on “reducing bureaucracy, removing layers, and shifting resources."
Amazon is pouring billions into AI infrastructure. Its cloud boss says the company feels "quite good" about its strategy.
The company didn’t say how many video-game jobs will be cut, but noted in a memo Tuesday that “significant role reductions” would fall on its offices in Irvine and San Diego, as well as its central publishing division.
Amazon is reporting third-quarter earnings on Thursday, days after the company announced it's laying off 14,000 people.