Latest news with #AmazonInc
Toronto Sun
2 days ago
- Business
- Toronto Sun
Amazon orders some corporate employees to relocate to Seattle and other U.S. hubs
One source said the relocation policy will affect thousands of employees on several teams Published Jun 19, 2025 • 2 minute read The Amazon Inc. headquarters in Seattle, Washington on Tuesday, Sept. 24, 2024. Photo by David Ryder / Bloomberg Inc. is ordering some corporate employees to move closer to their managers and teams, roiling a workforce already worried about job cuts and warnings from the top that artificial intelligence will shrink their ranks in the coming years. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. 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Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Workers are being told to relocate to such cities as Seattle; Arlington, Virginia; and Washington DC, which in some cases would require them to move across the country, according to people familiar with the situation. Amazon is mostly rolling out the mandate in one-on-one meetings and town halls rather than sending out a mass email, said the people, who requested anonymity because they aren't authorized to discuss company plans. One of the people said the relocation policy will affect thousands of employees on several teams. Mid-career professionals with children in school and partners in established careers are reluctant to make big moves in light of Amazon's belt-tightening efforts. An Amazon spokesperson said 'for more than a year now, some teams have been working to bring their teammates closer together to help them be as effective as possible, but there isn't a one-size-fits all approach and there hasn't been a change in our approach as a company.' Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Amazon employees have been sharing information about the relocation mandate on the company's internal slack channels, according to documents reviewed by Bloomberg. One employee said their manager informed the team of the need to relocate and told them they had 30 days to make a decision. Then they had 60 days to either resign or begin their relocation process, according to the person, who said they were told there would be no severance for employees who resigned in lieu of relocating. The company spokesperson said 'we hear from the majority of our teammates that they love the energy from being located together, and whenever someone chooses to or is asked to relocate, we work with them to offer support based on their individual circumstances.' This advertisement has not loaded yet, but your article continues below. When Chief Executive Officer Andy Jassy ordered employees to return to the office five days a week beginning earlier this year, there was no requirement that they move to specific offices. Amazon has satellite workplaces around the country, including major metropolitan areas like New York, Boston, Los Angeles, Dallas and Austin, giving workers some flexibility about where they lived. Many employees were hired to fully remote positions during the pandemic. In 2022, Jassy initiated Amazon's biggest-ever round of corporate job cuts, which ultimately eliminated 27,000 positions across the Seattle-based company. There have since been several smaller rounds of reductions targeting particular departments. Telling workers to relocate will likely prompt some to quit, which can be a less expensive way to reduce headcount than executing layoffs and paying severance packages. Jassy on Tuesday said he expects the company's workforce to shrink in coming years due to AI advancements that will be capable of performing some employee functions. The announcement, while not entirely unexpected, set off a round of hand-wringing on internal messaging boards. NHL Soccer Columnists Sunshine Girls Toronto Maple Leafs
Bloomberg
4 days ago
- Business
- Bloomberg
Amazon's Jassy Says AI Will Reduce Company's Corporate Workforce
By and Spencer Soper Save Inc. Chief Executive Officer Andy Jassy says he expects the company's workforce to decline in the next few years as the retail and cloud-computing giant uses artificial intelligence to handle more tasks. Generative AI and AI-powered software agents 'should change the way our work is done,' Jassy said in an email to employees on Tuesday that laid out his thinking about how the emerging technology will transform the workplace.
Globe and Mail
5 days ago
- Business
- Globe and Mail
I Would Put $5,000 Into These Stocks and Never Sell
My investing strategy has always been to buy a stock and plan to hold it for decades. In some cases, parting ways with a stock is needed if the business fundamentally changes for the worse, but for the most part, the real value comes over the long run. Buying shares with the intention of holding them makes it easier to accept the inevitable ups and downs and focus on the long-term value you'll (ideally) receive from them. Letting time and compound earnings do the heavy lifting is one of the surest ways to build wealth in the stock market. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » With $5,000 to invest (or any amount, really), I would put it into the following two companies and not look back. They operate in different industries, but are both poised to continue being great businesses for the long haul. 1. Amazon Amazon (NASDAQ: AMZN) has been one of the premier growth stocks over the past 20 years, up around 11,600% compared to the S&P 500 's 400% gains over that span. Although Amazon is undoubtedly known for its bustling e-commerce business, it has evolved into one of tech's most thorough conglomerates. The once-humble online bookseller has now ventured into e-commerce, cloud computing, media and entertainment, and advertising. E-commerce continues to be a massive moneymaker, with its North America and International segments combining for over $126 billion in sales in the first quarter -- this includes subscription revenue, third-party sellers, and more. For perspective, that's more than AT&T made in its last four quarters combined, and nearly double Amazon's total revenue just six years ago. AMZN Revenue (Quarterly) data by YCharts. Having e-commerce as the engine that fuels other business ventures has allowed the company to invest heavily in high-growth segments and focus on innovation. The one that has benefited the most is its cloud service, Amazon Web Services (AWS). AWS is the world's largest cloud platform and has been a major growth driver over the past decade. So much so that as a stand-alone company, AWS would easily be one of the top 100 revenue-generating public companies in the world. It will continue to be Amazon's profit maker, but other segments, such as Amazon Prime, its various healthcare ventures, advertising, and its logistics network offer significant long-term upside. Amazon has become one of the best companies at diversifying its business and revenue streams, better prepping it to withstand whatever economic conditions come its way. If you're looking for a stock to hold for the long haul, that's one quality you want to look for. 2. Visa Visa (NYSE: V) is a stock that I've committed to consistently buying because it's arguably the most important company in the global payments ecosystem. And it has become that by simply playing middleman, connecting consumers, businesses, and banks. As of the beginning of this year, Visa had 4.8 billion payment credentials (cards, digital wallets, etc.), was accepted by over 150 million merchants, and issued cards for around 14,500 financial institutions. That's a large reach that even its next closest competitor, Mastercard, won't be able to touch for quite a while. Since Visa operates only the payment network and doesn't issue cards or offer credit, its business is able to operate with high margins and minimal credit risk. If you own a Chase credit card in Visa's network and decide not to pay your balance, you owe Chase, not Visa. Operating as a high-margin, relatively low-risk business has given it the free cash flow it needs to continue expanding its payment network and investing in other financial innovations. Visa receives a boost with the payment network due to the network effect. It is the most widely accepted card, so people prefer to own its cards; and it's the most widely owned card, so businesses prefer to accept Visa. V Free Cash Flow (Quarterly) data by YCharts. Network effects aside, it's essential that the company maintains an innovative mindset because the payments landscape is rapidly changing with the introduction of new technologies. Luckily, Visa has shown that it's not in the business of complacency, which is what you want from the industry leader and the stock you plan to hold on to for the long haul. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor 's total average return is988% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. JPMorgan Chase is an advertising partner of Motley Fool Money. Stefon Walters has positions in Visa. The Motley Fool has positions in and recommends Amazon, JPMorgan Chase, Mastercard, and Visa. The Motley Fool has a disclosure policy.
Bloomberg
11-06-2025
- Business
- Bloomberg
Amazon Brings Whole Foods Closer in Grocery Unit Reorganization
Inc. is exerting more control over Whole Foods Market, largely ending the independence the grocery chain had retained since being acquired eight years ago. Under a reorganization announced last week, Whole Foods' corporate employees are joining Amazon's programs for pay, benefits and other functions.
Bloomberg
06-06-2025
- Business
- Bloomberg
Amazon Vows to Tackle Fake Reviews After UK's CMA Probe
Inc. has vowed to improve its systems to tackle fake reviews on its online marketplace and act against sellers who 'hijack' good reviews following four years of the UK antitrust watchdog's investigation. The Competition and Markets Authority said Amazon gave undertakings for to make it easier to report fake reviews and sanction businesses that use good reviews for one product for an entirely different product. Alphabet Inc. 's Google gave similar commitments in January.
