Amazon Slashes 16,000 Jobs Amid Restructuring Efforts

Amazon confirmed additional corporate job cuts, completing a planned reduction of around 30,000 positions. This marks the largest layoff in the company's history as it restructures under CEO Andy Jassy. The cuts come amid efforts to reduce bureaucracy, close underperforming stores, and adapt to advancements in AI technology.

Amazon announced on Wednesday that it had completed a sweeping wave of corporate job cuts, totaling 16,000 positions, as part of a broader plan to reduce 30,000 jobs since October. This strategy forms part of CEO Andy Jassy's goals to streamline operations and shed unproductive business segments.

The company revealed closures of its physical Fresh grocery stores and Go markets and discontinued its Amazon One biometric payment system. These moves reflect Amazon's adaptation to market demands and technology trends as it focuses on core operations and efficiency.

In a continued response to the rising impact of artificial intelligence on business operations, Amazon's recent layoffs have underscored shifts in the corporate workforce. The company initially overexpanded during the pandemic, riding a surge in online shopping that has since waned. As Amazon braces for future challenges, further adjustments remain a possibility.

(With inputs from agencies.)