Amazon To Cut 16,000 Jobs In Latest Bid To Cut Bureaucratic Flab

Amazon.com Inc. (AMZN) on Wednesday announced that it is laying off about 16,000 employees in its latest bid to trim the bureaucratic flab.

“We’ve been working to strengthen our organization by reducing layers, increasing ownership, and removing bureaucracy,” said Amazon’s Senior Vice President of People Experience and Technology at Amazon, Beth Galetti.

Galetti added that while many teams finalized their organizational changes in October as the company sought to reduce layers and remove bureaucracy, other teams did not complete that work until now.

Amazon shares were up nearly 0.25% in Wednesday’s pre-market trade. Retail sentiment on Stocktwits for the stock was in the ‘bearish’ territory, with message volumes at ‘high’ levels.

Get updates to this story developing directly on Stocktwits.

Also See: Will The Fed Cut Rates This Week?

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on