00:00It's Benzinga bringing Wall Street to Main Street.
00:02Amazon CEO Andy Jassy said the company's decision to cut 14,000 jobs was driven by culture,
00:09not finances or artificial intelligence, according to CNBC. Jassy told analysts Thursday the layoffs
00:16were meant to remove layers and preserve Amazon's identity as the world's largest startup. He said
00:22years of growth had added unnecessary management levels that slowed decision-making and weakened
00:27ownership among core workers. Amazon's quarterly sales rose 13% to $180 billion and shares jumped
00:3513% after hours. The company ended last year with about 1.5 million employees, down from a peak of
00:431.6 million in 2021. For all things money, visit Benzinga.com.
Comments