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13 mentions found


☆ Amazon Web Services CEO Adam Selipsky to step down
  + stars: | 2024-05-14 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
New York CNN —Amazon’s biggest moneymaker, Amazon Web Services, is getting a new leader. Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month, the company announced Tuesday. Selipsky, who first joined AWS in 2005 — before its services were even publicly available — has led the business since 2021, when previous AWS CEO Andy Jassy was promoted to lead all of Amazon. Matt Garman, currently vice president of sales, marketing and global services, will take over as AWS CEO starting June 3. Amazon Web Services’ sales have grown more than 85% since Selipsky’s takeover.
Persons: New York CNN —, Adam Selipsky, Selipsky, —, Andy Jassy, Matt Garman, Jassy, “, he’d, Adam, ” Jassy, “ I’m, Matt, ” Selipsky, Garman Organizations: New, New York CNN, Amazon Web, AWS, Google, Microsoft, Amazon Locations: New York
☆ Amazon revenue climbs 14% during holiday quarter
  + stars: | 2024-02-01 | by ( Catherine | Thorbecke | ) edition.cnn.com   time to read: +2 min
New York CNN —Amazon saw a sharp jump in sales last quarter, driven by robust consumer spending during the holiday shopping season. The e-commerce leader on Thursday reported revenue of $170 billion for its quarter ending in December, beating Wall Street’s estimates. Amazon’s profits during this past holiday quarter also come as its business enters 2024 in much better shape than a year ago. This past quarter marked “a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon,” Jassy said in a statement Thursday accompanying the earnings. Amazon Web Services, a longtime money maker for the company, saw revenue climb 13% last quarter to $24.2 billion.
Persons: Wall, Andy Jassy, ” Jassy, Jassy, “ Rufus ”, Rufus Organizations: New, New York CNN, Amazon, Web Services, ” Locations: New York
☆ Amazon warns that not complying with return-to-office mandate could impact getting promoted
  + stars: | 2023-11-17 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +1 min
New York CNN —Amazon is once again doubling down on its return-to-office mandate, warning staff that not complying with it could impact their chances of being promoted. There are a “variety of factors we consider when determining an employee’s readiness for the next level,” Brad Glasser, an Amazon spokesperson, told CNN in a statement. Like much of the broader business world, Amazon has faced some employee resistance to this mandate. In August, meanwhile, Amazon sent a warning email to some of its office workers that said it believed they were not complying with its return-to-office policies. The company said it has a remote work exception request policy in place, which is considered on a case-by-case basis.
Persons: don’t, ” Brad Glasser, ” Glasser, Andy Jassy, ” Jassy, Amazon Organizations: New, New York CNN, Employees, CNN, Amazon, “, Seattle Locations: New York
☆ Amazon is changing how it gets packages to you
  + stars: | 2023-05-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
Amazon (AMZN) has traditionally operated one national delivery network that distributed orders from warehouses spread across the country. If a local warehouse didn’t have the product a customer ordered in, say, Detroit, Amazon (AMZN) would ship it from another part of the country. So in pursuit of boost its profitability, the company has created eight regions in smaller geographic areas designed to ship products over shorter distances. I don’t need same day or next day delivery for most things,” he wrote. Amazon also recently started adding a “frequently returned” badge on certain products on its website for customers.
☆ 2023 layoff tracker: The latest on which companies have announced job cuts
  + stars: | 2023-04-25 | by ( Jennifer Korn | ) edition.cnn.com   time to read: +20 min
New York CNN —BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. With 11,000 job cuts announced in November and the 10,000 announced in March, Meta’s headcount will fall to around 66,000 — a total reduction of about 25%. The company announced in January that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. IndeedJob listing website Indeed.com announced cuts of approximately 2,200 employees, representing almost 15% of its total workforce, the company said in March. The cuts come after the company announced several rounds of job cuts throughout the pandemic due to falling demand, followed by rapid hiring last year.
☆ The American consumer has bad news for the economy
  + stars: | 2023-04-14 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
That’s why Wall Street is already fretting over Friday’s retail sales report, which is expected to show that the mighty American consumer is pulling back. Economists forecast that retail sales fell 0.4% in March from the month before. But Goldman Sachs and Bank of America analysts say core sales — that’s without autos, gasoline, and building materials — slowed by about 1%. A taxing problem: Still, the health of the American consumer is still relatively strong, the BofA analysts said. A one-bedroom apartment had a median rent of $4,150, up 9.6% from last year, while a two-bedroom apartment had a median rent of $5,680, up 18.3% from a year ago.
☆ Amazon is ‘investing heavily’ in the technology behind ChatGPT
  + stars: | 2023-04-13 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +4 min
CNN —Amazon wants investors to know it won’t be left behind in the latest Big Tech arms race over artificial intelligence. In a letter to shareholders Thursday, Amazon (AMZN) CEO Andy Jassy said the company is “investing heavily” in large language models (LLMs) and generative AI, the same technology that underpins ChatGPT and other similar AI chatbots. Since ChatGPT was released to the public in late November, Google (GOOG), Facebook (FB) and Microsoft (MSFT) have all talked up their growing focus on generative AI technology, which can create compelling essays, stories and visuals in response to user prompts. With that in mind, Amazon on Thursday unveiled a new service called Bedrock. It essentially makes foundation models (large models that are pre-trained on vast amounts of data) from AI21 Labs, Anthropic, Stability AI and Amazon accessible to clients via an API, Amazon said in a blog post.
☆ Amazon to lay off 9,000 more workers
  + stars: | 2023-03-20 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +2 min
New York CNN —Amazon is cutting 9,000 more jobs, CEO Andy Jassy announced Monday in a memo to staff. The latest cuts come after the company announced earlier this year that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. “This was a difficult decision, but one that we think is best for the company long term,” Jassy wrote in the memo. Amazon, like a number of other Big Tech companies, also rapidly grew its headcount during the early days of the pandemic. Just last week, Facebook-parent Meta said it was laying off an additional 10,000 workers, on top of the 11,000 job cuts announced late last year.
☆ Amazon to require office workers to show up in person at least three days a week
  + stars: | 2023-02-17 | by ( Brian Fung | ) edition.cnn.com   time to read: +1 min
Washington CNN —Amazon is ordering thousands of its workers back to the office for at least three days per week, according to a company memo by CEO Andy Jassy on Friday. The move, which takes effect May 1, marks an end to the remote- or hybrid-friendly policy that had been in place at Amazon (AMZN) previously. It also comes a month after Amazon (AMZN) confirmed plans to lay off more than 18,000 workers amid broader uncertainty in the economy. In defending the policy change, Jassy argued that in-person work would lead to better collaboration and company culture. “It’s not simple to bring many thousands of employees back to our offices around the world, so we’re going to give the teams that need to do that work some time to develop a plan,” Jassy wrote in the memo.
☆ Amazon says it will cut over 18,000 jobs, more than initially planned
  + stars: | 2023-01-05 | by ( Jordan Novet | Jordan Novet Is A Cnbc Technology Reporter Specializing In Artificial Intelligence | Cloud Computing | ) www.nbcnews.com   time to read: +2 min
Amazon said Wednesday it will cut over 18,000 jobs, a bigger number than the e-retailer initially said it would be eliminating last year. The Wall Street Journal reported on the cuts earlier, which Amazon said pre-empted its planned announcement. In November, Jassy said Amazon would eliminate roles, including at its physical stores and in its devices and books divisions. CNBC reported at the time that Amazon was looking to lay off around 10,000 of its employees. “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” Jassy wrote.
☆ Amazon CEO explains thinking behind layoffs as unionized warehouse workers protest outside
  + stars: | 2022-11-30 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +5 min
Amazon, more than most tech companies, experienced a staggering pandemic boom as more customers shifted their spending online during the health crisis. Despite the landmark union victory in April, Amazon has so far refused to formally recognize the grassroots worker group known as the Amazon Labor Union, or come to the bargaining table. The company has aggressively pushed back against the workers’ victory through the National Labor Relations Board (NLRB). Jassy also emphasized that the last two Amazon union elections held resulted in workers voting not to unionize, and that Amazon prefers to have a direct relationship with fulfillment center workers rather than going through unions. Labor activist Chris Smalls joins members of the Amazon labor union and others for a protest outside of the New York Times DealBook Summit as Amazon's CEO, Andy Jassy, will be appearing on November 30, 2022 in New York City.
☆ Amazon CEO says job cuts will continue into 2023
  + stars: | 2022-11-17 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +2 min
CNN Business —Amazon CEO Andy Jassy said job cuts at the e-commerce giant would continue into early next year, in his first public remarks since the company began widespread layoffs earlier this week. “Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments,” Jassy wrote in a letter to staff Thursday. Facebook-parent Meta recently announced 11,000 job cuts, the largest in the company’s history. Twitter also announced widespread job cuts after Elon Musk bought the company for $44 billion. “It’s not lost on me or any of the leaders who make these decisions that these aren’t just roles we’re eliminating, but rather, people with emotions, ambitions, and responsibilities whose lives will be impacted,” Jassy wrote.
☆ Amazon CEO says job cuts will continue into next year
  + stars: | 2022-11-17 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +2 min
CNN Business —Amazon CEO Andy Jassy said job cuts at the e-commerce giant would continue into early next year, in his first public remarks since the company began widespread layoffs earlier this week. “Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments,” Jassy wrote in a letter to staff Thursday. Facebook-parent Meta recently announced 11,000 job cuts, the largest in the company’s history. Twitter also announced widespread job cuts after Elon Musk bought the company for $44 billion. “It’s not lost on me or any of the leaders who make these decisions that these aren’t just roles we’re eliminating, but rather, people with emotions, ambitions, and responsibilities whose lives will be impacted,” Jassy wrote.
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