Record Job Cuts at Amazon and UPS
Amazon has announced plans to lay off around 14,000 employees, marking another round of cost-cutting. The goal is to streamline operations and reduce bureaucracy, allowing for greater investment in generative artificial intelligence (GenAI).
"This generation of artificial intelligence is the most revolutionary technology since the creation of the internet, enabling companies to innovate faster than ever before — both in existing markets and entirely new ones,"
wrote Beth Galetti, Senior Vice President of Human Resources and Technology at Amazon. According to reports, these will be the largest layoffs in Amazon's history, potentially affecting up to 30,000 employees, primarily in administrative, technology, and HR teams.
Author's summary: Amazon cuts 14,000 jobs.