tl;dr
Amazon Web Services is reportedly cutting "several hundred" jobs in its sales, marketing, and global services teams as well as a few hundred employees in its physical stores technology team as the cloud computing giant shifts its focus. The majority of the job cuts in sales, marketing, and services...
Amazon Web Services is reportedly cutting "several hundred" jobs in its sales, marketing, and global services teams as well as a few hundred employees in its physical stores technology team as the cloud computing giant shifts its focus. The majority of the job cuts in sales, marketing, and services are in training, certification, and sales operations. AWS is moving towards self-serve digital training and training run by third parties. Matt Garman, AWS senior vice president, wrote in a memo, "We do not take these decisions lightly, and I know change can be difficult... The changes we are making are preparing the organization for the future, aligning with our strategy and priorities, and reducing duplication and inefficiency." The job cuts in the physical stores technology team come after the company shelved its "Just Walk Out" technology at some of its grocery stores. Amazon Fresh stores will replace the grab-and-go technology with Dash Carts, allowing shoppers to track their spending by scanning items as they go, while still allowing them to skip checkout lines. Amazon has made several cuts to its headcount in 2024, including in its healthcare and media divisions, including its Twitch streaming service. Last year the company cut jobs at Audible, Prime Video, Twitch, and Buy with Prime divisions, with job cuts between 2022 and 2023 amounting to roughly 27,000.
More about Amazon.com Inc
Amazon.com, Inc. is an American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. The company has been referred to as one of the most influential economic and cultural forces in the world, as well as the world's most valuable brand.
Industry: TRADE & SERVICES
Sector: RETAIL-CATALOG & MAIL-ORDER HOUSES
Market Cap: 1,876,899,267,000
Current Price: $3,454.98
Dividend Yield: None
P/E Ratio: 62.52
EPS: 2.89
52-Week High: $3,773.08
52-Week Low: $2,671.41
RSI (14): 55.78
Volatility (Month): 0.0529
Average Volume: 5,747,849,950,000
Stock Price Change (1-Year): 208.64
Stock Price Change (YTD): 50.69
Beta: 0.139
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