Amazon to cut as many as 30,000 jobs

Amazon plans to cut up to 30,000 corporate jobs starting Tuesday to reduce expenses after overhiring during the pandemic. This accounts for nearly 10% of its 350,000 corporate staff but is a small fraction of its 1.55 million total employees.

This move marks the largest job reduction since late 2022 when around 27,000 jobs were eliminated.

Job cuts will affect various divisions, including human resources and devices. Managers received training on notifying staff about the layoffs, which will begin via email.

Amazon’s shares rose 1.5% ahead of its third-quarter earnings report on Thursday.