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Amazon stock witnessed a plunge of 11% in extended trading on February 5, erasing more than $250 billion in market value after the company introduced a $200 billion capital expenditure plan for 2026. According to a report by CNBC, this was the highest plunge among the megacap tech firms, far exceeded Wall Street expectations by…
Amazon is planning to cut approximately 14,000 corporate jobs starting next week, marking the second major layoff wave since October and bringing total reductions to 30,000 roles. CEO Andy Jassy clarified the cuts aren’t driven by AI or financial concerns but by excessive bureaucracy and organizational layers. The layoffs will affect employees across AWS, retail,…
Thousands of Amazon employees have signed an open letter issuing some dire warnings about the company’s move toward AI. The letter, signed by more than 1,000 workers (and counting) calls out Amazon for pushing its AI investments at the expense of the climate and its human workforce. The letter’s supporters come from a wide array…
Amazon CEO Andy Jassy provided a detailed update on the company’s hardware solution for managing the intense heat generated by AI chips. This system is particularly useful in data centres that house powerful GPUs, such as Nvidia GPUs. In a recent post on the social media platform X (formerly Twitter), Jassy explained that every cloud…
Andy Jassy, CEO of Amazon Amazon announced a new round of layoffs last month, impacting about 14,000 employees. Days later CEO Andy Jassy clarified that the job cuts are not impacted by AI or aimed to cut costs. Instead, the reason behind Amazon’s 14,000 job cuts is ‘culture’. “The announcement that we made a few…
Amazon CEO Andy Jassy recently claimed that the company’s artificial intelligence (AI) based shopping assistant, Rufus, will generate an additional $10 billion in annualised sales. Jassy shared the projection during Amazon’s third-quarter earnings call last week, highlighting the chatbot as one of the company’s key bets on consumer-facing AI. At the earnings call, Jassy said:…
Amazon CEO Andy Jassy says that the company’s latest round of layoffs that impacted barely 14,000 people is not because of money or AI. Instead, the real reason behind Amazon job cuts is the culture, Jassy said. “The announcement that we made a few days ago was not really financially driven, and it’s not even…
Andy Jassy, CEO of Amazon Amazon‘s cloud business, known as Amazon Web Services, is grappling with the same organizational bloat that CEO Andy Jassy has spent over a year trying to eliminate, according to a Bloomberg report revealing how management layers and decision-making paralysis are hindering the cloud giant’s ability to compete in the AI…
Amazon fired Ahmed Shahrour, a software engineer working for the company’s Whole Foods division in Seattle, on Monday following a five-week suspension, according to CNBC. The termination came after Shahrour posted messages on internal Slack channels criticising Amazon’s involvement in Project Nimbus, a $1.2 billion cloud computing contract with the Israeli government.“In the next 24hrs…
Andy Jassy, CEO of Amazon Amazon CEO Andy Jassy recently explained what and how the e-commerce company is working to improve the company’s culture. Speaking at Amazon’s annual conference for third-party sellers in Seattle (via CNBC), Jassy said that “bureaucracy is really anathema to startups and to entrepreneurial organizations” and that he is working to…
