Amazon stock climbs as 16,000 job cuts sharpen focus ahead of AWS earnings
Amazon shares rose 1% to $247.10 after the company said it will cut about 16,000 corporate jobs, nearly 10% of its white-collar workforce. The move is part of a broader plan to reduce 30,000 positions since October. Amazon also plans to close its Amazon Go and Amazon Fresh stores, converting some to Whole Foods locations. UPS will cut up to 30,000 jobs and reduce Amazon deliveries in 2026.