Amazon announced another round of job cuts. The company said it was trying to figure out how much excess capacity do they have? We don't think the fundamentals of the cloud business are recovering at this point, which is partially the reason why they had to go another round of layoff. If the cloud still has a long runway in the long run, when that growth comes back, they're going to go out and hide a lot of people back again.
Bloomberg Intelligence Senior Global Banks Analyst Alison Williams and Bloomberg Intelligence Senior Analyst for US Regional Banks Herman Chan break down the latest news on the turmoil in the global banking sector. Build-A-Bear Workshop CEO Sharon Price John discusses earnings and consumer discretionary spending. Bloomberg Intelligence Senior Technology Analyst Anurag Rana shares his thoughts on Amazon cutting 9,000 more jobs. And we Drive to the Close with Paul Baiocchi, Chief ETF Strategist at SS&C ALPS Advisors.
Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan.
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