Amazon plans to cut 30,000 corporate jobs in response to pandemic overhiring

Core Points - Amazon plans to cut up to 30,000 corporate jobs, representing nearly 10% of its corporate workforce of approximately 350,000 employees, as part of efforts to reduce expenses after overhiring during the pandemic [1][5] - This round of job cuts will be the largest since late 2022 when around 27,000 jobs were eliminated [1] - The job cuts may affect various divisions, including human resources, devices and services, and operations [2] Company Initiatives - CEO Andy Jassy is focused on reducing bureaucracy and the number of managers within the company, implementing an anonymous complaint line that has led to over 450 process changes [4] - Increased use of artificial intelligence tools is expected to contribute to further job cuts by automating repetitive tasks [4] Financial Context - The full scope of the job cuts remains unclear and may change as Amazon's financial priorities evolve, with reports suggesting that the human resources division could see cuts of around 15% [5] - Following the announcement, Amazon shares rose by 1.5% to $227.53, with the company set to report its third-quarter earnings soon [5]