Amazon and UPS announce layoffs due to AI automation, targeting up to 30,000 jobs, with 14,000 already cut.

Prominent companies such as Amazon.com (NASDAQ: AMZN) and United Parcel Service (NYSE: UPS) have recently made significant job cuts as they embrace AI-powered automation, signaling a major shift in corporate structures. UPS stock is on the rise following positive earnings. Amazon is reported to be slashing thousands of desk jobs, with plans to cut up to 30,000 positions; already confirming 14,000 layoffs this year. The job cuts at Amazon primarily target corporate and mid-level management roles. The layoffs are attributed to efficiency improvements from new AI technologies.