Amazon has announced plans to cut approximately 14,000 corporate jobs, representing close to 4% of its workforce, as part of a major restructuring effort. The online retail giant is ramping up spending on artificial intelligence while trimming costs elsewhere. Employees affected will be given 90 days to find a new position internally, according to a letter sent to staff.
The layoffs come amid a broader wave of job cuts across multiple sectors, driven by economic uncertainty, rising operational costs, and corporate restructuring. Other major companies, including HP, Verizon, General Motors, and Paramount, have also announced significant workforce reductions in recent months.
HP expects to lay off between 4,000 and 6,000 employees as part of a streamlining initiative that includes adopting AI to boost productivity. Verizon began laying off more than 13,000 employees, with CEO Dan Schulman citing the need to simplify operations and reorient the company. General Motors will cut about 1,700 workers at manufacturing sites in Michigan and Ohio due to slowing demand for electric vehicles.
Paramount plans to lay off about 2,000 employees, roughly 10% of its workforce, following its merger with Skydance. The company also announced 1,600 job cuts related to divestitures in Argentina and Chile, and 600 employees have taken voluntary severance packages. United Parcel Service has disclosed about 48,000 job cuts this year as part of turnaround efforts, while Target eliminated about 1,800 corporate positions globally.
Other notable layoffs include Nestlé cutting 16,000 jobs globally over the next two years, Lufthansa Group shedding 4,000 jobs by 2030, Novo Nordisk cutting 9,000 jobs, and ConocoPhillips laying off up to a quarter of its workforce. The trend reflects a cautious hiring environment and increased focus on cost-cutting and AI investment.
