Amazon CEO says 14,000 layoffs driven by 'culture' not financial or AI factors
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jhncls
Plain bagel done well. Pleasantly substantive.
Summary
Amazon CEO Andy Jassy explained that the company's decision to lay off 14,000 employees was driven by "culture" rather than financial concerns or AI implementation. During an earnings call, Jassy stated the layoffs were "not really financially driven, and it's not even really AI driven, not right now. It's culture," despite Amazon reporting 13% year-on-year sales growth to $180 billion.
Key quotes
· 3 pulledAmazon chief executive Andy Jassy's explanation for why the company is cutting 14,000 employees? Not money. Not even AI, but 'culture.'
The layoff announcement this week was 'not really financially driven, and it's not even really AI driven, not right now. It's culture,' Jassy said in response to an analyst question on the company's earnings call Thursday.
Amazon's quarterly sales grew 13% year-on-year to $180 billion.
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