Amazon.com, Inc. (AMZN)

Investing.com -- Amazon.com Inc (NASDAQ:AMZN) is preparing a second wave of corporate layoffs next week as part of an ongoing initiative to trim its global workforce by roughly 30,000 employees. According to reporting from Reuters, the upcoming cuts are expected to mirror the scale of the 14,000 positions eliminated last October. The planned reductions could begin as early as Tuesday, according to Reuters, citing people familiar with the matter who spoke on the condition of anonymity. These move

Amazon.com Inc. (NASDAQ:AMZN) CEO Andy Jassy has committed the tech giant to funding its own massive energy needs for artificial intelligence (AI), aligning with a similar pledge from Microsoft Corp. (NASDAQ:MSFT) amidst growing political pressure to protect consumers from rising electricity bills. Self-Funding Commitment Speaking at Davos to CNBC, Jassy addressed concerns that the insatiable energy demands of AI data centers would burden ordinary ratepayers. “We don’t expect other people to pay

‘The Big Short’ investor Michael Burry has issued a dire warning regarding the artificial intelligence (AI) sector, predicting a systemic collapse that not even federal intervention can prevent. Defining The Mania In a scathing post on X, Burry characterized the current AI investment frenzy as a “mania” that is mathematically destined to fail. Burry, famous for betting against the housing market before the 2008 crash, argues that the massive capital expenditures by the world's wealthiest corpora

Amazon is planning a second round of job cuts next week as part of its broader goal of trimming some 30,000 corporate workers, ​according to two people familiar with the matter. The total this time is expected to be roughly the same ‌as last year and could begin as soon as Tuesday, the people said, who asked not to be identified because they were not authorized to discuss Amazon’s plans. An Amazon spokesperson declined to comment.

A new report shows that when it comes to social media usage, an app from Meta Platforms Inc (NASDAQ:META) is seeing strong daily user growth, while X from Elon Musk's xAI is falling behind. Here's the latest in the battle for users on social media. Threads Vs. X: New Winner Emerges For Mobile Use Launched in July 2023 and quickly gaining 100 million sign-ups in five days, Threads from Meta has been called an X killer and an X copycat. Whatever you call Threads, the social media platform is showi

An appeal for bankruptcy protection filing of the operator of Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus has left the luxury department stores' suppliers with unpaid bills and caused a rift with Amazon, one of Saks Global's minority investors. Saks Global said last week it had secured roughly $1.75 billion to help finance the company toward hoped-for profitability. While the retailer's stores remain open for now, the bankruptcy and restructuring could likely impact the assortment of designer brands customers find online or in their local Neiman Marcus or Saks, according to industry experts.

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