Early this morning, news broke that Amazon and Paramount have both initiated layoff plans. Amazon is reportedly (not 100% confirmed) planning to lay off about 30,000 employees, accounting for roughly 10% of its workforce. Paramount has confirmed its first round of layoffs, affecting about 1,000 employees, and is expected to continue with another 2,000 layoffs later, making up approximately 16% overall. This suggests that job cuts at major U.S. companies may accelerate, potentially leading to a rise in future unemployment rates and a noticeable weakening of labor market indicators. On the positive side, this could strengthen the case for the Federal Reserve to continue cutting interest rates, but on the negative side, it also signals an economic slowdown and rising risks to corporate profitability. Sponsored by Bitget ｜@Bitget_zh