Tech and e-commerce major Amazon.com, Inc. announced its plan to cut approximately 16,000 jobs worldwide as part of additional organizational changes.Beth Galetti, Senior Vice President of People Experience and Technology at Amazon confirmed the decision, which was shared with Amazon employees earlier in the day.The firm is offering most US-based employees 90 days to look for a new role internally. The company noted that timing will vary internationally based on local and country level requirements.Further ...

Core Insights - Amazon is intensifying its focus on the Whole Foods brand while discontinuing two of its own physical retail initiatives [1] Group 1 - Amazon's decision to double down on Whole Foods indicates a strategic shift towards enhancing its grocery segment [1] - The company is terminating two of its physical retail experiments, signaling a reevaluation of its retail strategy [1] - This move reflects Amazon's commitment to leveraging the established brand equity of Whole Foods in the competitive grocery market [1]

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Happy Wednesday. When you work in journalism, there's a new surprising story each day. Yesterday, it was about what gold investors can learn from King Henry VIII's reign.S&P 500 futures are rising this morning after a winning day.Here are five key things investors need to know to start the trading day:1. Decisions, decisionsFederal Reserve Chair Jerome Powell speaks after a Federal Open Market Committee meeting ...

Core Insights - MySize Inc. has announced the expansion of its circular fashion subsidiary, Percentil, into the European second-hand fashion market through Amazon's marketplace, starting with Spain [1][2]. Industry Overview - The European second-hand apparel market is estimated to be a €30–40 billion opportunity and is growing faster than the primary apparel market, driven by increasing consumer adoption of circular fashion and online marketplaces [3]. - Spain is identified as an attractive entry point for this expansion, with over 90% of Spanish online shoppers using Amazon annually [3]. Company Strategy - Percentil's collaboration with Amazon allows it to access a broad base of European consumers while maintaining control over sourcing, quality standards, pricing, and inventory selection [2][4]. - At launch, Percentil has over 100,000 authenticated second-hand items available for allocation to Amazon, having processed over 12 million items historically from more than 70,000 fashion brands [4][6]. - Percentil's own marketplace remains the primary sales platform, while Amazon serves as a complementary channel to improve inventory rotation and expand consumer reach without additional fixed-cost investments [5][6]. Future Outlook - The initial rollout in Spain is seen as a potential blueprint for future expansion into additional European markets, with a multi-channel approach enhancing Percentil's ability to scale and respond to demand signals [7][8].

Core Insights - Amazon announced the elimination of 16,000 positions across its workforce, which consists of approximately 1.5 million employees globally [1][1][1] Group 1: Layoff Details - The layoffs were officially announced after an accidental email was sent to employees referencing the cuts before the formal communication [1][1] - Amazon's senior vice president of people experience and technology, Beth Galetti, confirmed the layoffs will impact around 16,000 roles but did not specify which divisions would be most affected [1][1][1] - Affected U.S.-based employees will have the opportunity to seek new positions within the company for the next 90 days [1][1] Group 2: Industry Context - The announcement of layoffs at Amazon follows similar actions by other major companies, including Nike, which laid off 775 employees, Pinterest, which cut around 15% of its workforce, and UPS, which announced 30,000 job cuts [1][1][1]

Core Insights - Stack Capital Group Inc. has invested $5 million USD in X-energy Reactor Company, an advanced nuclear technology firm focused on developing next-generation small modular reactors and proprietary nuclear fuel solutions [1][2]. Company Overview - X-energy, founded in 2009 and based in Rockville, Maryland, specializes in safe, reliable, and carbon-free energy solutions, including the Xe-100 small modular reactor and TRISO-X particle fuel [2]. - The company has secured approximately $1.8 billion in private capital and up to $1.2 billion in funding from the U.S. Department of Energy through the Advanced Reactor Demonstration Program [2]. - X-energy is supported by major stakeholders such as Amazon, Dow Inc., and Ontario Power Generation, positioning it as a leader in advanced nuclear commercialization [2]. Industry Context - The demand for reliable, carbon-free baseload power is critical for global economic growth, especially with the rise of AI, electrification, and industrial decarbonization [4]. - Advanced nuclear energy is seen as a scalable solution to meet this demand, with X-energy recognized as a category leader due to its differentiated technology and commercial traction [4].

Core Insights - Amazon.com Inc. (NASDAQ: AMZN) shares increased by 5.83% over the last five trading sessions after experiencing a decline of 6.38% in the previous five sessions [1] Summary by Category Stock Performance - The stock gained 5.83% in the most recent five trading days [1] - Prior to this gain, the stock had lost 6.38% in the preceding five trading days [1]

Group 1 - Amazon is discontinuing its palm-authentication service, Amazon One, across all retail businesses, with users able to use it until June 3 [1] - The discontinuation follows Amazon's decision to close all Amazon Fresh and Amazon Go stores, where Amazon One was utilized, to focus on growth areas [2] - Amazon One was initially tested in 2020 at two Amazon Go stores in Seattle and later expanded to hundreds of Whole Foods and third-party retailers [2] Group 2 - Amazon is laying off approximately 16,000 corporate roles as part of a strategy to reduce bureaucracy [3] - The company has not provided comments regarding the layoffs [3] - The situation is ongoing, and updates are expected [3]

A Leading Indicator For Big TechIn a post on X early Wednesday, Cramer highlighted his deepening conviction in Seagate as a bellwether for the broader tech ecosystem.“The more I dig down on Seagate the more it seems that there could be a multi-year build out leading to terrific things for Google, Nvidia, Broadcom, Microsoft and Amazon,” Cramer wrote.Cramer's analysis suggests that the demand for mass storage solutions—essential for data centers and AI model training—is not a short-term spike but a long-term ...

Group 1 - Key Point 1: Pinterest and Autodesk have announced layoffs as they begin 2026, indicating a trend among tech companies to reduce workforce [1]