Amazon cutting another 16,000 jobs

• Amazon's cuts come amid the trend of what some have called the "forever layoff," where reductions come in batches, rather than a single sweeping reorganization.

Driving the news: Wednesday's cuts affect the teams that hadn't completed their reorganizations around the last cuts in October, per a blog post from senior vice president Beth Galetti.

• "While we're making these changes, we'll also continue hiring and investing in strategic areas and functions that are critical to our future. We're still in the early stages of building every one of our businesses and there's significant opportunity ahead," Galetti wrote.

This is a developing story.