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Trump ‘Playing With Fire' on Dollar Threatens Further Declines

Trump ‘Playing With Fire' on Dollar Threatens Further Declines

Bloomberg5 hours ago

Take the latest Bloomberg Pulse survey: Does the dollar regain some of its lost haven status amid escalating tensions in the Middle East? Tell us your thoughts.
The dollar is having a shocker of a year, down more than 10% against the euro, pound and Swiss franc.

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Amazon CEO: AI Will Reduce Workforce, Take Corporate Jobs
Amazon CEO: AI Will Reduce Workforce, Take Corporate Jobs

Entrepreneur

time21 minutes ago

  • Entrepreneur

Amazon CEO: AI Will Reduce Workforce, Take Corporate Jobs

Amazon CEO Andy Jassy says that the e-commerce giant is already using AI to improve internal operations. Amazon CEO Andy Jassy said on Tuesday that he expects Amazon's corporate workforce to decrease in number in the coming years as AI takes over tasks. In a memo to staff, Jassy wrote that Amazon is already using or building over 1,000 generative AI services and applications, "a small fraction" of what the e-commerce giant will ultimately create. These AI agents can act on their own to conduct deep research, write code, and translate languages. Amazon is applying AI to improve its internal operations. The company is utilizing AI agents in its warehouses to improve delivery speed and has infused its customer service chatbot with AI capabilities, Jassy wrote. He noted that AI has also allowed Amazon to put together more detailed product pages on its site. Related: AI Is Going to 'Replace Everybody' in Several Fields, According to the 'Godfather of AI.' Here's Who He Says Should Be 'Terrified.' These new AI capabilities mean that Amazon needs fewer human employees. Jassy stated that as Amazon builds more AI agents to take over tasks in its business units, the company will make cuts to its human workforce. "We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs," Jassy wrote in the memo. "It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company." Jassy advised employees to attend workshops and trainings on AI, to use the technology whenever possible, and to tap into AI to get more done with smaller teams. He said that employees who "embrace" AI and "become conversant" in it will be best-positioned to help the company move forward. Amazon CEO Andy Jassy. Photographer: Michael Nagle/Bloomberg via Getty Images Amazon employees took to internal Slack channels on Tuesday to criticize Jassy's message, per Business Insider. In dozens of messages that reached thousands of employees, workers expressed hesitation about the reliability of AI, which some called "dangerous" due to its tendency to hallucinate or make up answers. Others voiced concerns about possible layoffs in the coming years. "There is nothing more motivating on a Tuesday than reading that your job will be replaced by AI in a few years," one person wrote in Slack, per BI. Related: 'I Hate Bureaucracy': Leaked Internal Amazon Document Reveals How the Tech Giant Is Cutting Down on Middle Management Amazon has laid off more than 27,000 employees since the start of 2022 to reduce costs. The tech giant has made dozens of cuts this year to its communications and sustainability departments, devices and services unit, and books division. The company is also planning to invest heavily in AI this year, outpacing its peers. According to a quarterly earnings call in February, Amazon plans to spend about $105 billion in capital expenses this year, with the majority of expenditure going toward AI. In comparison, Microsoft is spending $80 billion on AI this fiscal year, Google's parent company, Alphabet, is expecting $75 billion, and Meta is preparing to spend about $65 billion. Amazon has more than 350,000 corporate employees and 1.56 million full-time and part-time global employees as of March 31.

Ryan Named to List of Best Workplaces™ in Professional Services in Canada for Ninth Consecutive Year
Ryan Named to List of Best Workplaces™ in Professional Services in Canada for Ninth Consecutive Year

Yahoo

time28 minutes ago

  • Yahoo

Ryan Named to List of Best Workplaces™ in Professional Services in Canada for Ninth Consecutive Year

MISSISSAUGA, Ontario, June 18, 2025--(BUSINESS WIRE)--Ryan, a leading global tax services and software provider, has been named to the 2025 list of Best Workplaces™ in Professional Services in Canada. This marks the ninth consecutive year the Firm has received this recognition. "At Ryan, nurturing a dynamic and collaborative workplace is at the heart of what we do, and it's all thanks to our outstanding team," said Garry Round, Ryan President of Canadian Operations. "Being recognized on this esteemed list reflects our dedication to one another, the Firm, and the clients we serve." Ryan received this recognition after a thorough and independent analysis conducted by Great Place To Work®. The list is based on direct feedback from employees of the hundreds of organizations that were surveyed by Great Place To Work. To be eligible for this list, organizations must be Great Place To Work Certified™ and have exceptionally high scores from employees on the Trust Index™ Survey. For information about exciting career opportunities at Ryan, visit the careers page of our website. About Great Place To Work Great Place To Work is the global authority on high-trust, high-performance workplace cultures. A global research and consulting firm, Great Place To Work provides the benchmarks and expertise needed to create, sustain, and recognize outstanding workplace cultures. In Canada, Great Place To Work produces both industry and demographic-specific Best Workplace lists and represents the voices of 500,000 employees across industry. This is part of the world's largest annual workplace study, recognizing the world's best workplaces in a series of national lists, including those published by The Globe and Mail (Canada) and Fortune® magazine (USA). Visit us at About Ryan Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. The Firm provides an integrated suite of federal, provincial, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is an 11-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multidisciplinary team of more than 5,900 professionals and associates serves over 77,000 clients in more than 80 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at View source version on Contacts MEDIA CONTACT Melodie ElliottDirector, Content and Communications

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