The company's revenue rose 13% to $143.1 billion in the third quarter, while net income more than tripled to $9.9 billion from $2.9 billion a year earlier. In October, Amazon reported third-quarter earnings that suggested its cost cutting has been paying off.
The company also froze corporate hiring, and Jassy has looked to trim expenses in units across the company. As a result, Amazon has carried out the largest layoffs in its history, cutting 27,000 jobs since last fall. The latest job cuts at Amazon come as CEO Andy Jassy has been in cost-cutting mode over the past year as the company has battled high interest rates and inflation. Shares of Amazon closed down less than 1% Monday. This isn't a decision the leadership team came to quickly it was the result of extensive considerations and road mapping for our future.' 'It never feels good to say goodbye to colleagues. 'I know this is difficult news and that the impact will be felt widely,' Hartmann wrote. Personal Loans for 670 Credit Score or Lower
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