Amazon is laying off hundreds of employees

Amazon plans to lay off hundreds of employees in its consumer retail division both at its Seattle headquarters and elsewhere around the globe, per a report from The Seattle Times. The tech giant — known for its efficiently brutal performance requirements — is making the cuts to overstaffed teams after years of rapid growth.

Yes, but: The layoffs reflect signs of minor retooling rather than any indication of doom at Amazon. The company has over 500,000 employees worldwide — and 12,500 open corporate roles on its hiring website.