U.S. Economy and its Mess

[rareboy]

When WSJ starts with stories like this...watch out.

 

[KaraBulut]

And so, it begins... in time for the holidays.

Amazon cuts 14,000 corporate jobs as spending on artificial intelligence accelerates

Amazon will cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence.

apnews.com

Amazon cuts 14,000 corporate jobs as spending on artificial intelligence accelerates

Amazon will cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence while cutting costs elsewhere.

Teams and individuals impacted by the job cuts will be notified on Tuesday. Most workers will be given 90 days to look for a new position internally, Beth Galetti, Senior Vice President of People Experience and Technology at Amazon, wrote in a letter to employees on Tuesday. Those who can’t find a new role at the company or who opt not to look for one will be provided transitional support including severance pay, outplacement services and health insurance benefits.

Amazon has about 350,000 corporate employees and a total workforce of approximately 1.56 million. The cuts announced Tuesday amount to about a 4% reduction in its corporate workforce.