Amazon.com, Inc. (AMZN) Stock: Shares Hold Near $245 As Amazon Cuts 16,000 Corporate Jobs In AI-Driven Restructuring
Amazon is cutting approximately 16,000 corporate jobs, marking its second major layoff round in three months, driven by an AI-led restructuring aimed at streamlining operations and reducing management layers. Despite these workforce reductions, Amazon reported strong profits and revenue, with investors reacting positively to the efficiency gains. The company's stock, AMZN, has shown resilience, outperforming the S&P 500 year-to-date, as the market prioritizes profitability and AI integration over job numbers.
https://coincentral.com/amazon-com-inc-amzn-stock-shares-hold-near-245-as-amazon-cuts-16000-corporate-jobs-in-ai-driven-restructuring/