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The Latest Breaking News from Andy Jassy

Amazon ended 2022 on a high note as it sheds thousands of employees

Amazon announced its Q4 2022 financial earnings, beating expectations and putting a fairly positive spin on a challenging economic period.

Android Central

Amazon has allegedly found a controversial way to cut its workforce

An Amazon employee is alleging that the company is attempting to avoid negative press by using a new approach to shrink its headcount.

The Street

Britain’s richest businesswoman—who earns more than Sundar Pichai—sees salary rise to $280M

The filing reveals the businesswoman is paid more than the prime minister of Britain.

Fortune

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Amazon closes another key business

The online giant has stumbled in its efforts to take on Kroger, Walmart, Target, and Publix.

The Street

2024 will be the ‘year of AI’ as tech stocks surge by (at least) 25%, top tech analyst Dan Ives predicts

A Wedbush AI survey shows Wall Street is “significantly underestimating how quickly this AI monetization cycle is playing out,” according to Ives.

Fortune

Andrew Jassy rose through the ranks at Amazon from marketing manager to CEO within a quarter century, earning hundreds of millions of dollars along the way.

The Street

Walmart customers behaving so strangely it's making bosses ‘sit up in their chairs’

Walmart CFO John David Rainey said the spending for the last two weeks of October was particularly "puzzling" when compared to prior months.

Fortune

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Jeff Bezos moved from Seattle to Miami—and he could take some of Amazon with him

Amazon is reportedly looking for office space in the city.

Fortune

Analyst who forecast Amazon's stock drop last month has a new price target

Here's what could happen to Amazon's stock next.

The Street

Amazon copies a key part of Target's customer strategy

The online giant has studied something that has been really successful for its rival and has its own version of it.

The Street

Amazon ‘blocks promotions’ for staff who do not return to office three days a week

The company’s back-to-office push was announced in February this year

The Independent UK

CEOs say remote work is a disaster for productivity. Goldman’s chief economist says that can't explain the last 15 years

An NYU economics professor shocked the profession by arguing that “total factor productivity” is linear, not exponential. Jan Hatzius says he's got a point.

Fortune

Read the leaked email that Amazon sent to the employees it just fired

The company has a new vision for its gaming department.

The Street

Amazon's big Bedrock bet

Amazon is developing its own generative AI model, but its AWS cloud business is betting that customers want to experiment with a mix of different models.

Fortune

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Barchart

Amazon Stock Pops After Q3 Beat: Here’s Why It's Still a Strong Buy

Amazon stock is trading higher today after posting better-than-expected Q3 earnings. Here are the key takeaways from the report, and why AMZN is still a good buy.

The Street

Stock Market Today: Stocks tick higher after strong finish to Big Tech earnings

Amazon injected markets with a bit of optimism after posting strong results Thursday.

Fortune

Amazon managers can now sack employees who won’t work from the office 3 days a week

“Continued non-compliance” with the tech giant’s return-to-office mandate could land employees in hot water, according to Amazon’s new management guidelines.

Fortune

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

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Fortune

Apple CEO Tim Cook got a $41 million payday after massive stock sale, as the iPhone maker’s shares creep down from summer highs

Apple CEO Tim Cook had a multi-million pound payday as he vested awards as part of his compensation package.

Fortune

Amazon’s return to office rule could take 3 years to become a reality, says senior exec: ‘It hasn’t been perfect.’

Amazon CEO Andy Jassy has been tough with his return to office mandate—senior exec Peter DeSantis had a more compromising tone.

The Street

Amazon investment aims to close AI gap with Google, Microsoft

Amazon is looking to close the AI gap with rivals Google and Microsoft with a potential $4 billion investment in the San Francisco startup Anthropic.

Fortune

Bill Ackman has employees in the office five days a week but makes an intriguing remote work concession

The hedge fund billionaire does allow remote work, just not all year.

The Street

Analyst who called Amazon's rally updates price target (many investors won't be happy)

Here's what could happen to Amazon's stock price next.

Barchart

2 AI Stocks to Transform Your Portfolio

The AI sector is set for explosive growth, and tech giants Amazon and Microsoft are leading the charge. Amazon's AWS harnesses AI for cloud solutions, while Microsoft integrates generative AI across its software suite, making both firms compelling investments.

Fortune

Dave Clark, the former Amazon exec who lost out to Andy Jassy, just quit his startup CEO role because the founder returned

“Founders have the right to change their minds,” Clark said in the surprise announcement that he was leaving Flexport.

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