Amazon reportedly plans to start cutting as many as 30,000 corporate jobs Tuesday (Oct. 28) as part of an effort to reduce the amount of bureaucracy and the number of managers at the company.
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Move would follow reports of cuts at Target, Meta and elsewhere.
Amazon could be implementing the largest job reduction at the company since 2023.
Amazon has been facing intensive investor scrutiny this year, as AWS growth consistently trails rivals', while core commerce remains challenged by looming tariff uncertainties. While market expectations have tempered, Amazon's upcoming earnings update would be pivotal in setting the tone for its forward outlook. The company will need to deliver more than outperformance against headline figures to solidify investors' confidence in its long-term trajectory.
Analyst expectations coming into this Thursday's quarterly release are for Amazon to report $177.8 billion in revenue and $1.58 in earnings per share, as well as $23.7 billion in operating income for y-o-y growth of 12%, 10% and 4%. Amazon is on track to do over $700 bl in revenue in calendar 2025, while AWS revenue is just 18% of the company's total revenue. However, AWS's operating margin is considerably higher (as a percentage of Amazon's total operating margin) than that revenue percentage at 40% of the company's total. Revenue growth for the retail giant slowed from 22% in 2021 to 9% in 2022, and the last three years ('22-'24) of revenue growth has averaged just 11%. 2025's expected revenue growth is just 9%, and the next two years' is just 10% ('26 and '27) per year.
Amazon plans to invest 1.4 billion euros ($1.63 billion) in the Netherlands in the next three years, Dutch financial daily FD reported on Monday, citing the company's head for Belgium and the Netherlands.
Hedge-fund billionaire David Tepper has made recent portfolio adjustments. Appaloosa Management reduced its stake in Broadcom Inc.
Bill Ackman has established his pedigree as a long-term investor with a focus on attractive valuations. His hedge fund, Pershing Square Capital, has purchased or added to each of these positions in 2025.
Amazon invented the cloud business with Amazon Web Services, but its recent massive outage and news that startup Anthropic chose competitor Google for new cloud capacity are raising concerns about AWS's cloud dominance. Bloomberg's Matt Day joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech.
OpenAI may get most of the buzz, but Amazon's less-hyped AI strategy with rival Anthropic could deliver excellent results. Amazon's soon-to-debut satellite-based broadband service may be a major growth opportunity.
On Monday, October 20, millions of internet users got a painful answer to a question few even knew existed. The question was: What do Snapchat, Roblox, Fortnite, Signal, United and Delta airlines and countless other web-based sites and services have in common?