The Fed meeting, Starbucks earnings, Amazon layoffs and more in Morning Squawk

Company Performance - Starbucks shares surged more than 7% after reporting stronger-than-expected revenue for the first fiscal quarter and traffic growth for the first time in two years, despite missing analysts' earnings estimates [2][3] - CEO Brian Niccol indicated that the results reflect the effectiveness of Starbucks' business turnaround plan, with same-store sales growing for the second consecutive quarter, driven by demand for holiday offerings [3] Corporate Changes - Amazon announced it is cutting about 16,000 corporate jobs as part of its effort to "remove bureaucracy," marking the second round of mass layoffs since October [9] - Additionally, Amazon will close its Fresh supermarket and Go convenience store chains, converting some locations to Whole Foods stores, as part of a strategy to make "deliberate choices" to build on its momentum [11] Industry Developments - Southwest Airlines has officially ended its open-seating policy after more than 50 years, responding to customer calls for change and highlighting financial benefits for investors [12][13] - The airline will now offer roomier, high-priced seats near the front of planes, which is expected to be a significant topic during its upcoming earnings call [13] Brand Value Impact - Tesla's brand value suffered a loss of $15.4 billion, approximately a 36% drop from 2024, attributed to CEO Elon Musk's increased political involvement [14]