Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Amazon is reportedly carrying out massive layoffs and will be cutting about 10,000 employees. Based on the reports, the job cuts will start this week and will mostly affect those in the company’s retail, human resources, technology, and corporate units.
As per Fox Business News, the upcoming terminations at Amazon were revealed by sources who are familiar with the matter. This would be the company’s largest layoffs in its entire history. It was said that the total job cut is equivalent to three percent of Amazon’s corporate employees and one percent of its total workforce worldwide.
It was noted that the e-commerce firm founded by Jeff Bezos already issued a warning to employees who are working in underperforming divisions. They were previously told to prepare and look for another job because the company is terminating staff due to the unstable economic situation.
This decision comes not long after its chief executive officer, Andy Jassy, started a cost-cutting review of Amazon. The review includes the cutback on businesses that showed poor performances and low-profit results.
Prior to these layoffs, Amazon also stopped its job recruitment activities for corporate positions. The company’s senior vice president, Beth Galetti, explained through a letter to employees that the move was made by the CEO and the leadership team because of the uncertainties in the economy.
"We are facing an unusual macro-economic environment, and want to balance our hiring and investments with being thoughtful about this economy," she said.
Galetti further revealed the company had already determined the divisions that would be shut down. Adding that the job hiring freeze will also continue for a few months more. “The company expects to keep this pause in place for the next few months as it continues to monitor the economy.”
Meanwhile, CNBC reported that Amazon also closed its telehealth service, cancelled its video-calling projector service for kids, took down its delivery robot, shuttered some of its physical stores, and closed all but one of its call centers in the United States. These steps showed how much the company is doing to cut on costs to keep the business going.
Photo by: Yender Gonzalez/Unsplash
