Amazon Slashes 14,000 Managerial Jobs in Major Cost-Cutting Move
Summary
In a major cost-cutting move, Amazon is slashing approximately 14,000 managerial jobs, representing a 13% reduction in its global management workforce, aiming to streamline operations, accelerate decision-making, and save between $2.1 billion and $3.6 billion annually.
Key Points
- Amazon plans to lay off around 14,000 managerial positions to save $2.1 billion to $3.6 billion annually
- The job cuts represent a 13% reduction in Amazon's global management workforce, aiming to streamline operations and speed up decision-making
- The layoffs are part of CEO Andy Jassy's strategy to increase the ratio of individual contributors to managers and reduce bureaucracy within the company