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00:02Amazon CEO Andy Jassy is pushing to make Amazon operate like the world's largest startup by
00:07cutting bureaucracy and flattening its corporate structure, and according to CNBC, the company
00:11plans to lay off about 14,000 corporate employees, with further reductions expected in January,
00:16marking its largest round of corporate layoffs in history. Divisions impacted include stores
00:20and human resources, as Jassy aims to boost efficiency and speed after years of expansion.
00:25Cuts follow a series of stream-living measures, putting office return mandates, discontinue
00:30retail ventures, and a focus on artificial intelligence and cloud growth. Amazon Web Services
00:35faces pressure from faster-growing rivals Microsoft and Google, but hopes its $38 billion cloud
00:40deal with OpenAI will counter perceptions it lags in AI. Cuts said the effort reflects a
00:45cultural overall, not financial distress. For all things money, visit Benzinga.com.
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