00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Amazon plans a second round of corporate job cuts next week as part of a broader effort to
00:07reduce about 30,000 white-collar roles, according to Reuters. The company cut about 14,000 corporate
00:13jobs in October, roughly half of the total target first reported by Reuters.
00:18The next round is expected to be similar in size and could begin as soon as Tuesday,
00:22the people said. An Amazon spokesperson declined to comment.
00:26The cuts are expected to affect Amazon Web Services, retail, Prime Video, and the people
00:33experience and technology unit, though details could change. Amazon said the October job cuts
00:39were linked to the rise of artificial intelligence, which is accelerating innovation.
00:44CEO Andy Jassy said the job cuts were driven by company culture and excess bureaucracy,
00:49not by financial pressure or artificial intelligence.
00:52For all things money, visit Benzinga.com.
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