Reuters reports that the cuts would amount to 10 percent of the company’s close to 350,000 corporate employees, and would be across different departments. The last time Amazon cut this many jobs was 2022, when 27,000 were slashed late in the year. The move follows Amazon CEO Andy Jassy saying in June that AI tools would lead to job cuts.
The Bureau of Labor Statistics’ jobs report last month showed unemployment at a four-year high, with only 22,000 jobs added in August (compared to a forecast of 75,000). Thanks to the government shutdown, job and unemployment figures from September aren’t known, but they are likely pretty bad. ADP, which processes payrolls, reported earlier this month that the private sector lost 32,000 jobs in September.
While the shutdown hides an official tally of how bad employment numbers are in America right now, Amazon’s impending layoffs, and estimates from other sources, indicate that the economy isn’t very strong right now—and the buck stops with the president.
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