Amazon to cut 30,000 corporate jobs
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Amazon Announces a 4% Workforce Reduction, Cutting 14,000 Jobs. Here's What Investors Need to Know.
Amazon ( AMZN 3.23%) announced Tuesday that it's cutting 14,000 corporate jobs, shedding roughly 4% of its workforce in a bid to shift more resources to artificial intelligence (AI) and other high-profile priorities.
FMC (FMC) -46.7% in Thursday's trading to its lowest since 2009 after reporting a nearly 50% Y/Y decline in Q3 revenues to just $542 million compared to analyst expectations of ~$1 billion, mostly the result of one-time actions in India as the company prepares to sell its India business.
More seriously, investors were asked to rank their worries for the future. 50% cited “Disorderly rise in bond yields on debt fears” as their biggest “fail risk.” (Fortune has written about anxiety over a potential government bond crisis here .) 30% cited the trade war.
The job cuts at Amazon were announced Tuesday and account for 4% of the online retail company’s corporate workforce.
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