Amazon to Slash More Than 18,000 Jobs

The CEO announced over 18,000 job cuts, exceeding previous expectations, as part of the company's annual planning process. The cuts will mainly affect corporate ranks, retail, and human resources. This move is seen as a response to the tech slump and aims to strengthen the company's cost structure. The company admitted to overhiring during the pandemic, which, along with a slowdown in ecommerce growth, has pressured its stock. A leaked memo caused a temporary stock rise, indicating investor approval of cost-cutting measures.

What was the total number of jobs that the CEO announced would be cut?

What reasons were given for the job cuts mentioned in the memo?

How did the stock market react to the news of the job cuts?

What did the CEO indicate about the company's hiring practices during the pandemic?

What were some of the issues that would be discussed with affected staffers?