$Amazon.com(AMZN)$ Amazon is reportedly going to layoff about 10,000 workers, which represent 3% of its corporate workforce. The cuts come as Amazon is facing soaring costs and slowing growth in its online business. Overeager expansion during the pandemic has also left Amazon with wasted logistics capacity, with the company announcing plans to cut capex as well. 

Basically, like many tech companies out there, it is trimming the fat. The most recent culling came from Meta, which shed 11,000 roles, representing 13% of the company. In response, the share price surged.

If Amazon follows through with the job cuts, it could boost investor optimism and we could see a near term bounce. Other than that, its cloud business remains intact and is still the market leader. Its advertising business is surging, although its e-commerce side is a bit bloated at the moment.  I'll probably take this chance to sell some puts on Amazon.