Core Viewpoint - Amazon plans to cut up to 30,000 corporate jobs starting Tuesday, as part of efforts to reduce costs following previous over-hiring [1][2] Group 1: Layoff Details - The layoffs will affect approximately 10% of Amazon's 350,000 corporate employees, marking the largest reduction since the company began layoffs in late 2022 [1] - The layoffs are expected to impact multiple departments, including the People Experience and Technology HR department, devices and services, and operations [2] - Amazon's HR department may face around 15% layoffs, indicating it could be a major area affected [2] Group 2: Financial Performance - Despite the layoffs, Amazon reported a 13% increase in net sales and a 229% year-over-year surge in net profit for Q1, with Q2 also showing a significant 101% profit growth [2] - The company is facing challenges despite strong financial performance, prompting a strategic shift towards automation and efficiency [2][3] Group 3: Strategic Initiatives - CEO Andy Jassy is pushing for a streamlined company structure to reduce bureaucracy and improve efficiency, with an anonymous feedback hotline receiving about 1,500 responses leading to over 450 process reforms [3] - The company is investing over $4 billion to double its delivery network by the end of 2026, focusing on small towns and rural areas [4] - Amazon plans to hire 250,000 seasonal workers to prepare for the upcoming holiday sales peak, maintaining the same scale as in the past two years [4] Group 4: Market Reaction - As of the latest market close, Amazon's stock price increased by 1.23%, reaching $226.97, with the company set to release its Q3 earnings report on Thursday [5]

Core Viewpoint - Amazon plans to cut up to 30,000 corporate jobs starting Tuesday, aiming to reduce costs and redirect resources towards artificial intelligence (AI) to enhance future competitiveness [1][4]. Group 1: Job Cuts and Industry Context - The planned layoffs represent 10% of Amazon's approximately 350,000 corporate positions, marking the largest reduction since the company cut about 27,000 jobs at the end of 2022 [1][3]. - This move is part of a broader trend in the tech industry, where over 200 companies have laid off around 98,000 employees since the beginning of the year, with major firms like Microsoft, Meta, Google, and Intel also implementing significant job cuts [3]. Group 2: Organizational Restructuring - Amazon's CEO Andy Jassy is pushing for a streamlined company structure by reducing management levels to combat "over-bureaucracy" [4]. - An anonymous feedback hotline has been established, receiving around 1,500 responses that have led to over 450 process reforms [4]. Group 3: Financial Performance and Investments - Despite the layoffs, Amazon is increasing its investments, with capital expenditures rising to $31.4 billion, primarily focused on AI and cloud computing [4]. - The company announced plans to invest over $4 billion to double its delivery network by the end of 2026, targeting small towns and rural areas to expand same-day and next-day delivery services to over 4,000 locations by the end of 2025 [4].