Summary
Amazon plans to lay off up to 30,000 corporate employees starting this week. This is expected to be Amazon's largest layoff in its corporate history. Other companies, like Target, are also preparing to reduce their workforce.
Key Facts
- Amazon plans to lay off as many as 30,000 corporate employees.
- The layoffs are expected to begin on Tuesday.
- These cuts are likely to be the largest in Amazon's corporate history.
- Target is also planning to cut 1,000 corporate jobs this week.
- Recent reports suggest other big companies may also reduce their workforce.
- The labor market has been stable, with few hirings or firings, but this may be changing.
- The stock market is at record highs, and there are signs of strong economic growth.
- Amazon did not comment on this report, and their stock prices remained steady in after-hours trading.
