Shares of Amazon.com Inc. (NASDAQ: AMZN) gained 5.83% over the past five trading sessions after losing 6.38% the five prior.
Amazon said it is discontinuing Amazon One. The technology enables users to use their palms for actions such as payments and venue check-ins.
In a blog post addressing the company's employees last year, Amazon CEO Andy Jassy noted that the e-commerce giants increasing adoption of AI will impact jobs. “As we roll out more Generative AI and agents, it should change the way our work is done.
Pinterest and Autodesk are among other tech companies that have started 2026 with layoff announcements.
Amazon is laying off about 16,000 corporate workers. It marks the company's second round of mass job cuts since last October.
Amazon ( NASDAQ:AMZN ) just announced it's shutting down both its Amazon Go convenience stores and Amazon Fresh grocery locations, marking a dramatic retreat from physical retail.
Amazon has told staff it plans to cut around 16,000 jobs globally as part of efforts to streamline operations and reduce bureaucracy across the business.
Amazon is laying off another 16,000 corporate employees globally, the company confirmed Wednesday morning, the second phase in a restructuring that now totals 30,000 positions — marking the largest workforce reduction in the company's history.
The e-commerce giant has been cutting costs in part to redirect money into building data centers to compete in the race to dominate artificial intelligence.
Amazon announces new layoffs as part of a broader reset by the e-commerce and cloud giant. The company previously cut 14,000 jobs in October, citing cultural and efficiency shifts.
Amazon said it was cutting 16,000 jobs worldwide in the second major round of layoffs at the company in three months, as it restructures to offset pandemic-era over-hiring and expands the adoption of AI tools.
Amazon has agreed to pay $309 million to settle a class action lawsuit in which the plaintiffs claimed they were incorrectly denied refunds for product returns, Reuters reported Monday (Jan. 26).