Amazon (AMZN) says it plans to start firing as many as 30,000 employees starting tomorrow, sources told Reuters on Monday. The company is seeking to pare expenses and compensate for overhiring during the peak demand of the COVID-19 pandemic. It would be the largest job cut at the e-commerce company since 27,000 jobs were cut in late 2022.

While the figure represents a small percentage of Amazon’s 1.55 million total employees, it is nearly 10% of the company’s roughly 350,000 corporate employees. Amazon has yet to comment nor confirm the Reuters report. Shares in AMZN got a slight uptick by 1.2% on Monday following the announcement, but dipped after markets closed.

The latest job cuts are a continuation of the layoffs Amazon has executed over the last two years. Per Reuters, this week’s cuts are expected to impact a variety of divisions within Amazon, including human resources, devices and services and operations, among others.

Amazon to Cut Jobs: How Will Stock React?

Amazon CEO Andy Jassy is undertaking an initiative to reduce what he has described as an excess of bureaucracy at the company. It’s likely that more cuts will come once 2026 arrives, especially with the company’s newfound focus on AI, removing the risk of human error from human roles. AMZN earlier today announced another $10B funding wave into AWS.

Amazon is set to announce its quarterly earnings report later this week, on October 30. Amazon is expected to report Q3 earnings on October 30, 2025, with analysts forecasting revenue of approximately $177.8 billion to $177.99 billion, a 12% year-over-year increase. Earnings per share (EPS) are projected to be around $1.57 to $1.60.

Also Read: Is It Time to Load Up on Amazon Stock Before Earnings?

Per the latest AMZN update shared by the Motley Fool, Amazon is steadily gaining heavy market momentum, with its past earnings reporting net sales hitting $167.7 billion. At the same time, Amazon’s cloud computing service AWS has also reported a stellar hike in business, capping revenues worth $30B. Analysts maintain a Buy rating with an increased price target of $269 amid these developments.