Amazon Cuts Another 2,200 Jobs in Seattle as Headquarters Hollows Out

Company Overview - Amazon has filed paperwork to cut 2,200 corporate jobs in Seattle, indicating a systematic reduction at its headquarters [2][7] - Despite the job cuts, Amazon's stock has increased by 7.27% over the past month, currently trading at $242.96 [3][7] Financial Performance - Amazon reported Q3 EPS of $1.95, surpassing estimates by 26.62%, with EPS rising from $0.17 in Q3 2022 to $1.95 in Q3 2023 [3][7] - Analysts have set optimistic price targets for Amazon, with KeyBanc at $308 and Wedbush at $340 [3] Strategic Initiatives - The job cuts are part of Amazon's efficiency strategy, focusing on replacing middle management with AI-driven decision-making [3] - The company is implementing a 14,000-role AI displacement strategy, which is seen as an acceleration of existing successful practices rather than a response to weakness [3] Market Position and Future Outlook - KeyBanc has identified Amazon as its "top large-cap idea in Internet and Retail," citing underestimated AWS re-acceleration [4] - Wedbush projects Amazon's Q4 operating income to be $25.2 billion, positioning it as the top eCommerce pick for 2026 [4]