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Open AI completes its for-profit recapitalization. My name is Emeran Shake,

and your Daily Crunch for Wednesday starts right now. On Tuesday, Amazon said that it plans to

reduce its corporate workforce by 14,000 jobs as it seeks to reduce bureaucracy, remove layers,

and invest more in its AI strategy. This makes the e-commerce giant's second largest

job cut since its slashed 22,000 jobs in 2022. Amazon had nearly 1.2 million employees as of October 31st,

2024, of which more than 360,000 were in its corporate division in administrative, sales,

and executive roles.

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