Core Insights - Amazon plans to cut up to 30,000 corporate jobs starting Tuesday to reduce expenses and address overhiring during the pandemic peak demand [1] Group 1: Job Cuts - The company is initiating significant layoffs as part of its strategy to streamline operations and manage costs effectively [1] - The decision reflects a broader trend in the industry where companies are reassessing their workforce in light of changing market conditions post-pandemic [1] Group 2: Financial Strategy - The job cuts are aimed at compensating for the rapid expansion and hiring that occurred during the pandemic, which has led to increased operational costs [1] - This move is expected to help the company improve its financial health and align its workforce with current demand levels [1]

Roughly two months after naming a new CEO, Target said it plans to cut an estimated 1,800 corporate jobs in an effort to offset the retailer's stagnant sales numbers, according to multiple reports citing a memo sent to employees. Target's board of directors appointed Michael Fiddelke as the retail giant's next CEO on Aug. 20, succeeding veteran CEO Brian Cornell. Fiddelke, who will take over for Cornell in 2026, announced the layoffs in a memo to Target employees at the retailer's headquarters in Minneapo ...