Amazon to cut thousands more jobs in efforts to streamline bureaucracy

By Spencer Soper and Matt Day

 

Amazon.com Inc is gearing up to ax thousands more corporate employees, ratcheting up efforts to streamline bureaucracy. 

The company plans to start rolling out the terminations as early as next week, according to people briefed on the situation.

 

The layoffs arrive a few months after the company announced it was excising 14,000 roles. At the time, Amazon signaled that more cuts could come in 2026 as it found “additional places we can remove layers.” Managers were given a choice to make cuts in October or wait until the new year, said the people, who requested anonymity to discuss an internal matter. 

 

 

The cuts, conducted in rounds on either side of Amazon’s busy holiday quarter, echo layoffs the Seattle-based company instituted in late 2022 and early 2023 that ultimately snared about 27,000 people.

 

Reuters reported the latest terminations earlier on Thursday. An Amazon spokesperson declined to comment. 

 

While the company employed a total of about 1.57 million people as of Sept. 30, most of them work in warehouses. The layoffs affect the corporate workforce, which comprises approximately 350,000 personnel. 

Citigroup to lay off more workers

 

Citigroup is expected  to layoff more employees in March following a round of about 1,000 job cuts this month, according to two sources with knowledge of the matter. The new wave of layoffs is expected to be announced after bonuses are paid, said the sources, who did not specify the scale or location of the previously unreported plans. 

They come as Citi CEO Jane Fraser continues a sweeping turnaround plan designed to cut costs, fix regulatory problems and boost profits to help the bank catch up with rivals. 

The March layoffs are likely to affect managing directors and senior employees across business lines, according to one of the sources. Some senior managers have already been reassigned to different divisions to secure roles before headcount is reduced, the source said. The cuts this month also affected many senior employees, the second source said. The sources declined to be identified discussing personnel matters. Reuters