Jan. 31 at 2:31 AM
$AMZN Tough timing
Making the timing even worse for Amazon, which has also agreed to stream a three-part docuseries through Prime Video, the company on Wednesday initiated another round of mass layoffs impacting about 16,000 corporate workers. The company let go of 14,000 employees last October.
The announcement was preempted a day early by an inadvertent email sent to cloud employees, which alluded to “organizational changes,” and a post from Amazon’s human resources boss Beth Galetti.
The layoffs are part of a broader effort by Jassy to cut costs and “remove bureaucracy” at the company, while it pushes to invest heavily in artificial intelligence. Some employees previously told CNBC that the cost cuts and rolling layoffs have damaged morale.
