Latest news with #layoffs
Yahoo
2 hours ago
- Business
- Yahoo
Chiquita lays off remaining day workers in Panama
PANAMA CITY (Reuters) -Banana giant Chiquita will lay off a remaining 1,189 day workers in Panama, its unit in the Central American country said on Thursday, after it received authorization from the government and following mass layoffs over a strike at its banana farms. The layoffs are effective Friday, it said. Chiquita Panama had fired 5,000 workers in late May as Panamanians across the country protested against several issues including a social security reform they said would affect their future pensions. Its management left Panama by early June.
Reuters
2 hours ago
- Business
- Reuters
Chiquita lays off remaining day workers in Panama
PANAMA CITY, July 17 (Reuters) - Banana giant Chiquita will lay off a remaining 1,189 day workers in Panama, its unit in the Central American country said on Thursday, after it received authorization from the government and following mass layoffs over a strike at its banana farms. The layoffs are effective Friday, it said. Chiquita Panama had fired 5,000 workers in late May as Panamanians across the country protested against several issues including a social security reform they said would affect their future pensions. Its management left Panama by early June.
Yahoo
3 hours ago
- Business
- Yahoo
AMZN: Amazon Slashes Cloud Staff as Growth Momentum Softens
July 17 - Amazon (NASDAQ:AMZN) is cutting an undisclosed number of positions in its cloud computing arm, the company confirmed. Brad Glasser, an Amazon spokesperson, said the decision follows a thorough review of our organization, our priorities, and what we need to focus on going forward, and will affect certain teams within Amazon Web Services. The company declined to specify which units or how many roles will be eliminated. Warning! GuruFocus has detected 4 Warning Sign with AMZN. This move extends a workforce reduction that has seen more than 27,000 job cuts since 2022, even as AWS revenue continues to grow. In the first quarter, AWS sales climbed 17% to $29.27 billion, down slightly from an 18.9% gain in the prior period, underscoring management's push to streamline operations and refocus resources. Reuters first reported the layoffs. Amazon stressed the cuts are not primarily tied to its generative AI investments and noted it remains open to hiring other roles within AWS. CEO Andy Jassy has warned that AI adoption could reduce our total corporate workforce over the next few years, as some tasks are automated and new skills are demanded. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
4 hours ago
- Business
- Bloomberg
Diamond Mine in Canada's North Halted With Hundreds Laid Off
Burgundy Diamond Mines Ltd. laid off 'several hundred' workers after halting part of its Ekati operations in northern Canada, adding another blow to the country's struggling diamond mining industry. Chief Executive Officer Jeremy King said the company has temporarily suspended its Point Lake open-pit mine after record-low global diamond prices made the operation uneconomical.
Geek Wire
6 hours ago
- Business
- Geek Wire
Amazon cuts hundreds of AWS cloud jobs after strategic review, says AI wasn't the main factor
The show floor at AWS re:Invent 2024 in Las Vegas. (GeekWire File Photo) Amazon confirmed Thursday morning that it's cutting jobs within its Amazon Web Services cloud division after a review of its organization and strategic needs. The company didn't disclose the number of people impacted, but Reuters reported that the layoffs will affect hundreds of jobs, at least, citing two unnamed sources. Amazon said the job cuts were not primarily driven by AI, but stemmed from a broader review that identified areas to streamline based on its current priorities. 'After a thorough review of our organization, our priorities, and what we need to focus on going forward, we've made the difficult business decision to eliminate some roles across particular teams in AWS,' said Amazon spokesman Brad Glasser in response to GeekWire's inquiry. He added, 'We didn't make these decisions lightly, and we're committed to supporting the employees throughout their transition. These decisions are necessary as we continue to invest, hire, and optimize resources to deliver innovation for our customers.' Last month, Amazon CEO Andy Jassy told employees that generative AI will fundamentally reshape work at the company. He wrote that AI and agents will mean 'fewer people doing some of the jobs that are being done today, and more people doing other types of jobs.' Jassy predicted that over the next few years, this will ultimately reduce Amazon's total corporate workforce as the company gains efficiency from using AI extensively. Amazon said it's offering support to affected AWS employees in the U.S., including at least 60 days of pay and benefits, access to transitional health coverage, job placement assistance, and eligibility for severance. The company added that wherever possible, it sought to help impacted workers find new roles internally. While some teams are seeing cuts, Amazon noted that it continues to hire in core areas, with thousands of open roles across AWS. The layoffs come shortly after the close of Amazon's second quarter and ahead of the company's earnings report. AWS revenue rose to $29.3 billion in the first quarter, while maintaining its position as Amazon's most profitable division, with $11.5 billion in operating profits. However, the 16.9% revenue increase was its lowest year-over-year quarterly growth rate in more than a year. The AWS layoffs are part of a broader wave of tech industry cuts in 2025, as companies including Microsoft, Disney, Salesforce, and others reevaluate staffing needs to reflect shifting market conditions and investment priorities amid the rise of artificial intelligence.
