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Amazon.com Inc. plans to cut corporate jobs in several key departments, including logistics, payments, video games and the cloud-computing unit, according to people familiar with the matter.
The terminations, expected as soon as Tuesday, could affect as many as 30,000 jobs, Reuters reported on Monday, citing sources.
Cuts on that scale would be the largest since rolling reductions in late 2022 and early 2023 that ultimately totaled more than 27,000 corporate employees, as Chief Executive Officer Andy Jassy looked to cut costs after expanding rapidly during the pandemic. Since then, there has been a steady drip of more modest layoffs targeting individual teams. An Amazon spokesperson declined to comment.
Jassy in June signaled that Amazon’s workforce would likely get smaller as the company increases its use of artificial intelligence to complete tasks normally handled by people. The comment touched off panic among workers, who trawled anonymous online chat rooms for insights about potential job cuts that often leak piecemeal, making it difficult to assess their full size and scope.
Today's show features:
Bloomberg News Big Tech Team Leader Sarah Frier on Amazon's expected layoffs and Qualcomm’s new semiconductors aimed at competing with Nvidia
Jan van Eck, Chief Executive Officer of VanEck Funds, on the market outlook heading into mega-cap tech earnings
Sarah Hunt, Chief Market Strategist, Alpine Saxon Woods, on the Monday trade and market outlook
Bloomberg News Boston Bureau Chief Brooke Sutherland and Bloomberg News Senior Economic Writer Shawn Donnan on their Businessweek feature: AI Data Center Boom Threatens Trump’s Manufacturing Revival
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