Business
fromArs Technica
2 hours agoCisco announces record revenue and 4,000 layoffs in the same day
Layoffs realign resources toward silicon, optics, security, and AI, with up to $1 billion in pre-tax charges expected.
Beth Galetti, a senior vice president at Amazon, wrote in a note to staff that the move would make the company "even stronger" by shifting resources "to ensure we're investing in our biggest bets and what matters most to our customers' current and future needs". She acknowledged that some would question the move given the company was performing well. At the end of July, Amazon reported second quarter results which beat Wall Street expectations on several counts, including a 13% year over year increase in sales to $167.7bn (125bn).