New York
\n \u00a0\u2014\u00a0<\/p>\n
\n Amazon chief executive Andy Jassy\u2019s explanation for why the company is cutting 14,000 employees<\/a>? Not money. Not even AI, but \u201cculture.\u201d\n <\/p>\n \n The layoff announcement \ufeffthis week was \u201cnot really financially driven, and it\u2019s not even really AI driven, not right now. It\u2019s culture,\u201d Jassy said in response to an analyst question on the company\u2019s earnings call Thursday. Amazon\u2019s quarterly sales grew 13% year-on-year to $180 billion.\n <\/p>\n \n Jassy explained that as Amazon added headcount, locations and lines of business in recent years, \u201cyou end up with a lot more people than what you had before, and you end up with a lot more layers \u2026 sometimes without realizing it, you can weaken the ownership of the people that you have who are doing the actual work.\u201d\n <\/p>\n \n Amazon\u2019s headcount peaked at more than 1.6 million in 2021; it ended last year with around 1.5 million employees, according to SEC filings.\n <\/p>\n \n \u201cIt can lead to slowing you down as a leadership team,\u201d he said. \u201cWe are committed to operating like the world\u2019s largest startup, and \u2026 that means removing layers.\u201d\n <\/p>\n \n Although Amazon said this week that the layoffs were more about staying \u201cnimble\u201d in anticipation of future AI efficiencies, the layoffs have nonetheless spurred fears about technology replacing human workers. Amazon (AMZN<\/a>) shares climbed 13% after-hours following the earnings report.\n <\/p>\n","protected":false},"excerpt":{"rendered":"New York \u00a0\u2014\u00a0 Amazon chief executive Andy Jassy\u2019s explanation for why the company is cutting 14,000 employees? Not…\n","protected":false},"author":2,"featured_media":237765,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":["post-237764","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/237764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=237764"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/237764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/237765"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=237764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=237764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=237764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}