Record Job Cuts at Amazon and UPS
Amazon plans to lay off around 14,000 employees, marking another round of cost-cutting to streamline operations and reduce bureaucracy.
The goal is to allow greater investment in generative artificial intelligence (GenAI), which
"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,"according to Beth Galetti, Senior Vice President of Human Resources and Technology at Amazon.
- The layoffs will primarily impact administrative, technology, and HR teams.
- According to CNBC, these will be the largest layoffs in Amazon’s history.
- Reuters reports that the cuts could affect up to 30,000 employees, citing sources familiar with the matter.
Author's summary: Amazon lays off 14,000 employees to invest in AI.
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