Wall Street Breakfast Podcast: Amazon Weighs Biggest Corporate Layoff Yet

Company Actions - Amazon plans to cut 30,000 corporate jobs, representing about 10% of its professional workforce, to lower expenses and address overhiring during the pandemic peak [8][9] - Affected divisions include human resources, devices and services, and operations [8] Regulatory Compliance - Meta, Snap, and TikTok will comply with Australia's social media ban for users under 16, effective December 10, with potential fines for non-compliance [10] - The platforms previously argued that the ban could push young users to less regulated areas of the internet [11] Credit Rating - Strategy received a junk level 'B-' credit rating from S&P Global Ratings, marking the first rating for a bitcoin treasury company [11] - The rating reflects high bitcoin concentration, narrow business focus, weak risk-adjusted capitalization, and low U.S. dollar liquidity, though the outlook remains stable [12]