(Bloomberg Opinion) -- The day Amazon.com Inc. announced in June 2017 that it was acquiring Whole Foods for almost $14 billion, employees of the natural grocer packed into the company’s Austin headquarters to meet their new bosses.John Mackey, the Whole Foods Chief Executive Officer at the time, introduced Jeff Wilke, Amazon’s CEO of Worldwide Consumer, who tried his best to connect with his foodie audience. “As I was sitting this morning, eating breakfast, watching the sun rise over this beautiful city—by ...

-- Amazon Is Laying Off 16,000 Workers, in Latest Round of Cuts [Stocks Little Changed Ahead of Fed Decision, Tech Earnings][What to Expect from Fed Meeting][How Much Traders Expect Tesla to Move After Earnings][How One Stock Shaved 422 Points Off the Dow Tuesday]- Top StoriesThe latest layoffs come after Amazon cut 14,000 roles in October.Matthias Balk / Picture Alliance / Getty ImagesClose### Key Takeaways- Many of Amazon's big tech peers have also laid off workers recently.- Amazon said Wednesday it is l ...

Internal memos from Amazon executives explained the company's decision to lay off 16,000 corporate workers as necessary to become the "world's largest startup," according to the messages viewed by Business Insider. "Our ambition is to be the world's largest startup," Amazon executives wrote in two such memos viewed by Business Insider. "That means doubling down on a culture of ownership, speed, and experimentation — which requires us to continue evolving how we're structured."The "world's largest startup" ...

16,000 corporate jobs is the latest wave of more than one wave. And the messaging and in line with your reporting right. Is that this is about efficiency and streamlining.Not about. What are the details of this particular trend that we're seeing. Yeah, definitely a de layering.They're kind of targeting the middle. And this is something that goes back to last year when Jassy was talking about, you know, more and more people who are doing the direct work and fewer people managing the work, you know, in the mi ...

Amazon ( NASDAQ:AMZN ) just announced 16,000 job cuts worldwide, the second massive layoff in four months following 14,000 cuts in October. ...

Quick Read Amazon (AMZN) eliminated 30,000 corporate roles in 120 days. Leadership explicitly framed cuts as AI-driven automation. Amazon’s Q3 net income rose 36.4% to $21.19B even as capital expenditures reached $35.1B. Microsoft and Meta are also restructuring workforces while investing billions in AI infrastructure. Investors rethink ‘hands off’ investing and decide to start making real money Amazon (NASDAQ:AMZN) just announced 16,000 job cuts worldwide, the second massive layoff in four month ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Quick Summary ChatGPT thinks Amazon stock could trade higher over the next 60 days, projecting an average price around $242.30 by mid-April. Investors looking to express a view can build exposure incrementally using commission-free fractional shares on SoFi, starting with as little as $5, and new users can receive up to $1,000 in free stock. Rather than slowly scaling position size through a retail acc ...

Amazon’s latest round of layoffs is set to hit 16,000 corporate employees starting Wednesday — with the tech titan suggesting artificial intelligence will do their work, instead.The firings come after Amazon said in October it was laying off 14,000 corporate workers, with the goal of trimming its 1.58 million-strong workforce by nearly 10%.The e-commerce giant has explicitly linked the layoffs to increased use of AI, particularly in corporate and technology functions.“Some may ask why we’re reducing roles w ...

Core Insights - Amazon is implementing a second round of layoffs, cutting 16,000 corporate roles as part of a strategy to enhance operational efficiency amid advancements in AI [1] - This follows a previous layoff of 14,000 roles in October, indicating a significant restructuring effort within the company [1] Employee Support and Benefits - Affected employees will receive full pay and benefits for 90 days, along with an additional severance package, and are not required to perform any work during this period [2][4] - Employees can apply for internal roles during the 90-day notification period [9] - The severance package details will be provided within 24 hours of the layoff notification, and employees must sign a severance and release agreement to receive it [5] Benefits Coverage - Medical, vision, dental, and other benefits will generally continue until the last day of the month in which employment ends, with specific policies for part-time or seasonal employees [6] Personal Belongings and Equipment Return - Employees can retrieve personal belongings through a survey, with items expected to be returned within two weeks, but potentially taking up to 30 days [7] - Instructions for returning company equipment, such as laptops and access cards, will be provided after the separation date [8] Career Transition Support - Outplacement support from Lee Hecht Harrison (LHH) will be available, offering career coaching, resume writing, interview preparation, and job leads [9]

Jeff Bezos is the world’s third-richest man with a current net worth of $266 billion. But the Amazon founder said his actual salary was much lower than that. During the early years of the now $2.61 trillion online retailer, Bezos said he asked the board “not to give me any comp,” beyond a modest base salary of just $80,000. “I already owned a significant amount of the company, and I just didn’t feel good about taking more,” Bezos said during a 2024 interview at the New York Times DealBook Summit. “I ju ...