Amazon layoffs, following Meta's, a 'red flag' -wealth manager

STORY: "As interest rates have gone up," Gilbert added, "those company's valuations have gone down, and they have seen a major repricing in the markets. With that, the companies need to act on that and decrease their labor force in order to create profit margin again."

Amazon's layoff plans heralded a dramatic shift for a company known for its job creation and added shape to the latest dismissals befalling the technology sector.