Tag: andy jassy

Amazon rallies on cloud recovery as it chases Microsoft for AI business
27Oct By adminNo Comments
Technology

Amazon rallies on cloud recovery as it chases Microsoft for AI business

[ad_1] Amazon.com rallied nearly 6% on Friday on signs that growth in its main profit driver, the cloud business, was picking up pace after two years of sluggishness due to lower client spending.The company was on track to add more than $70 billion to its market capitalization based on its premarket share price of $127. Smaller cloud rivals Microsoft and Alphabet also gained around 1% each. Amazon CEO Andy Jassy said on Thursday the cloud business was stabilizing as large expansions with existing customers and first-time agreements were likely to aid growth in the final three months of the year. He also touted the AI opportunity for Amazon Web Services (AWS), saying that he expected the technology to lead to "tens of billions of dollars in revenue over the next several years".Wall Stree...
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Apple CEO Tim Cook among the most popular tech CEOs in the world
6Oct By adminNo Comments
Technology

Apple CEO Tim Cook among the most popular tech CEOs in the world

[ad_1] A new survey has revealed some shocking information about employee approvals for their CEOs in the tech space. According to its results, 83 percent of the employees approve of the work Tim Cook is doing as the CEO of Apple. On the other hand, X chief Linda Yaccarino found herself among the lowest-ranked tech CEOs with an approval rating of just 4 percent. That means, only four out of one hundred employees thought of her work as the head of the company as significant or to have a positive impact.The survey was done by Blind, a social media platform geared towards anonymous verified employees to create a community. It has around 9 million users at present. The survey was done to find the approval rating for 103 CEOs based on employee feedback. The results were formed after 13,171 v...
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Amazon to cut 18,000 jobs as layoffs expand in tech sector
6Jan By adminNo Comments
Technology

Amazon to cut 18,000 jobs as layoffs expand in tech sector

[ad_1] Amazon.com Inc's layoffs will now include more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company's e-commerce and human resources organizations, he said. The cuts amount to 6% of Amazon's roughly 300,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent. They also show how layoffs continue to shake the technology sector. Amazon's layoffs now surpass the 11,000 cuts announced last year by Facebook parent Meta Platforms Inc, underscoring the retailer's slide from an essential busi...
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Amazon Employees Fear ‘No One Is Safe’ as Layoffs Roil the Ranks
17Nov By adminNo Comments
Technology

Amazon Employees Fear ‘No One Is Safe’ as Layoffs Roil the Ranks

[ad_1] “No one is safe.” So wrote an Amazon.com Inc. employee on an internal chat room as the company began the largest round of layoffs in its history. The mood, especially in the hard-hit devices team, reflected the shock and dismay of people more accustomed to growing budgets and moonshots than talk of recession and austerity.  Devices chief Dave Limp, in a note to his team on Wednesday, said the firings pained him. He pledged severance payments for people who can't find other jobs inside the company. But for many recipients his note was little consolation, and some wondered why Chief Executive Officer Andy Jassy, considered by some a gentler touch than predecessor Jeff Bezos, hadn't addressed the troops the way Mark Zuckerberg did when announcing job cuts at Meta Platforms Inc.  La...
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Amazon’s Jeff Bezos, Andy Jassy Can be Forced to Testify in FTC’s Probe
22Sep By adminNo Comments
Technology

Amazon’s Jeff Bezos, Andy Jassy Can be Forced to Testify in FTC’s Probe

[ad_1] Amazon.com Inc. lost a bid to exclude top executives including billionaire founder Jeff Bezos and CEO Andy Jassy from having to testify in a FTC probe. Amazon.com Inc. lost a bid to exclude top executives including billionaire founder Jeff Bezos and Chief Executive Officer Andy Jassy from having to testify in a Federal Trade Commission probe. The company filed a petition with the FTC last month, arguing that the agency's information and interview requests were “unduly burdensome.” In an order published late on Wednesday, the FTC rejected that request, saying the two executives could be interviewed as part of a probe, though it extended the time period for when sworn testimony could occur. “Amazon provides no rea...
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