The lion's share of financial news coverage this week was about Twitter and FTX, but very quietly Amazon was taking brutal body blows.

Amazon plans to lay off approximately 10,000 people in corporate and technology jobs starting as soon as this week, people with knowledge of the matter said, in what would be the largest job cuts in the company’s history.

The cuts will focus on Amazon’s devices organization, including the voice assistant Alexa, as well as at its retail division and in human resources, said the people, who spoke on condition of anonymity because they were not authorized to speak publicly.

The number of layoffs remains fluid and is likely to roll out team by team rather than all at once as each business finishes plans, one person said. But if it stays around 10,000, it would represent roughly 3 percent of Amazon’s corporate employees and less than 1 percent of its global work force of more than 1.5 million, which is primarily composed of hourly workers.

This constitutes the general bad news. The worst of the specific bad news mostly comes from Europe.

(Reuters) - Amazon.com Inc (AMZN.O) is facing a lawsuit in Britain for damages of up to 900 million pounds ($1 billion) over allegations the online marketplace abused its dominant position by favouring its own products, lawyers said.

I don't think that there is any question that Amazon favors it's own products, so they will lose this case. Things on the continent continue to be bad for Amazon.

(Reuters) - Germany's antitrust watchdog said on Monday it had expanded two probes into U.S. e-commerce giant Amazon.com (AMZN.O) making use of new regulation allowing it to prohibit any anti-competitive behaviour at an earlier stage.

"We are examining in both proceedings whether and how Amazon impedes the business opportunities of sellers that are active on the Amazon marketplace and compete with Amazon’s own retail business," Federal Cartel Office President Andreas Mundt said in a statement.

So Amazon will lose this one too.
Meanwhile back in the States, Amazon workers in San Bernardino walked off the job. They demanded better treatment and pay. (note: I find it curious how often Amazon workers will wildcat strike, but how rarely a majority will vote to join the union.)
Another Inland Empire Amazon warehouse, in Moreno Valley, became the first Amazon warehouse in California to file for a union election.