Layoffs hit Amazon, UPS, Target, and more -- what's fueling the cuts

[Yo_Mama_Been_Loggin]

Thousands of workers are falling victim to job cuts at Amazon (AMZN), UPS (UPS), Nestlé (NSRGY), and other large companies, in an economy defined by uncertainty, AI, and global tensions.

Amazon said in a message to employees Tuesday that it would reduce its “corporate workforce” by approximately 14,000 roles, with impacted employees being offered time to look for new roles internally or receive “severance pay, outplacement services, health insurance benefits, and more” if they were unable or unwilling to continue working for the company.

Meanwhile, UPS said in its third quarter earnings results on Tuesday that it had cut its “operational workforce by approximately 34,000 positions” in the first nine months of the year as it looked to be more efficient, while about 14,000 positions, primarily in management, had also been eliminated.

Target (TGT) is similarly planning to axe 1,800 corporate roles, while Paramount Skydance (PSKY) is reportedly set to slash more than 1,000 positions Wednesday.

https://finance.yahoo.com/news/layoffs-hit-amazon-ups-target-and-more--whats-fueling-the-cuts-165130359.html

[Lovie777]

1. AI costs.............................

[democratsruletheday]

2. RECESSION anyone?

It's here and there's no denying it despite the shithead corp. media not saying one peep about it.

[Attilatheblond]

3. Even the overpaid corporate executives can see it coming

Laying people off just as the holiday shopping season is coming is proof they know the economy is tanked and falling further very soon.

[IcyPeas]

4. Gee, I hope no CEOs will be let go or asked to take a salary cut. That would be devastating.

[Xolodno]

5. Shipping companies are usually the first ones...

...to recognize a downturn is coming. That and box companies.