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 primary reason for the company's decision to cut over 18,000 jobs?

• To expand its workforce

• To launch new products

• To strengthen its cost structure

• To increase employee benefits

How many employees does the company have approximately?

• 1.5 million

• 2 million

• 1 million

• 500,000

What was one of the reasons for the company's stock coming under pressure?

• Increase in ecommerce growth

• Decrease in employee salaries

• Expansion into new markets

• Overhiring during the pandemic

What was the effect of the leaked memo on the company's stock?

• It led to a stock split

• It caused the stock to rise

• It had no effect

• It caused the stock to fall

How did Wall Street investors react to the company's cost-cutting measures?

• They were critical

• They were indifferent

• They were supportive

• They were confused