Amazon.com, Inc. (AMZN)

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Amazon plans thousands more corporate job cuts next week, sources say

STORY: Amazon is planning a second round of job cuts next week...part of its broader goal of laying off roughly 30,000 corporate workers.That's according to two people familiar with the matter, who told Reuters exclusively that the layoffs could begin as soon as Tuesday.Amazon in October cut some 14,000 white-collar jobs, about half of the 30,000 target first reported by Reuters.The total this time is expected to be about the same as last year.The sources told Reuters that jobs in the company's retail division, Prime Video unit, Amazon Web Services, and human resources department, known as People Experience and Technology, are slated to be affected. The sources cautioned that details of Amazon's plans could change.An Amazon spokesperson declined to comment.Amazon tied the October round of job cuts to the rise of AI software.However, CEO Andy Jassy later told analysts during the company’s third-quarter earnings call that the job reductions were, quote, "not really financially driven" and "not even really AI-driven.”Instead, he said, the move was prompted by “culture," meaning the company has too much bureaucracy.The full reduction of 30,000 jobs would represent a small portion of Amazon’s nearly 1.6 million employees.But they would slash almost 10% of the company's corporate workforce...and mark the largest staff reduction in Amazon's three-decade history.

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