Amazon layoffs, Qualcomm’s AI chips, Airbnb cracks down on Halloween and more in Morning S
October 28, 2025
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Here are five key things investors need to know to start the trading day:
1. Amazon’s cull
Amazonlatest round of corporate cuts, the company announced this morning. The layoffs are expected to be the biggest reduction in the company’s history, CNBC’s Annie Palmer reported yesterday. Nearly every business is expected to be impacted by the cuts, according to a person familiar with the matter.
Beth Galetti, Amazon’s senior vice president of people experience and technology, wrote in a blog post that the company needs to be “organized more leanly” and have fewer layers. Amazon is the second-largest private employer in the U.S. with upwards of 1.5 million employees. The 14,000 cuts announced this morning represent about 4% of its corporate and tech workforce.
Amazon CEO Andy Jassy said earlier this year that the Washington-based company could shrink its workforce by embracing AI. The firm is part of a cohort of large-cap companies that have seen their AI-related productivity increase as the technology becomes mainstream.
2. Chips on the table
Qualcommrelease artificial intelligence accelerator chips. The initiative makes the company a new competitor for NvidiaAMD
Here’s what to know:
- Qualcomm said that its AI200 and AI250 chips will debut in 2026 and 2027, respectively. The data center chips are based on AI parts already in Qualcomm’s smartphone chips.
- So far, Nvidia has dominated the AI chip industry, accounting for more than 90% of the graphics processing units, or GPUs, in the market.
- Qualcomm CEO Cristiano Amon told CNBC’s “Squawk Box” this morning that energy efficiency and lower operating costs differentiate his company’s offerings.
- Shares of Qualcomm surged 11% in yesterday’s session, making it the stock’s best day since April.
- Qualcomm’s gain helped drive the broader market to all-time highs yesterday, with the S&P 500Follow live markets updates here.
3. Running a list
Treasury Secretary Scott Bessent confirmed there are five finalists left in the running to succeed Federal Reserve Chair Jerome Powell.
On the list: Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh and BlackRock’s Rick Rieder. That’s the same group of candidates CNBC reported earlier this month. President Donald Trump said he will likely announce his pick by the end of 2025.
Meanwhile, the Federal Open Market Committee will kick off its two-day meeting today, with all eyes on its interest rate decision due tomorrow.
4. iBuyer
Shares of iRobotreached an impasse. The Roomba maker said negotiations with its last remaining bidder fell through following a “lengthy period of exclusive negotiations” last week.
iRobot has been trying to find a buyer for its business since March. The company has been in a rough spot since Amazon dropped its acquisition bid last year.
5. Party crashers
If you’re in the market for pumpkin carving materials or candy this Halloween season, you’re likely in for some sticker shock. An analysis of retail pricing data shows these goods have seen jumps as big as 300% as tariffs raise costs for suppliers.
Joe Ens, CEO of Pumpkin Masters parent Signature Brands, told CNBC he hopes shoppers will accept price increases to continue traditions like pumpkin decorating. The average consumer is expected to spend a record $114 tied to Halloween this year, according to the National Retail Federation.
Meanwhile, Airbnbanti-party technology to quell large gatherings held at bookings in the U.S. and Canada.
The Daily Dividend
In an exclusive interview with CNBC, Microsoft“
In a letter published ahead of a U.N. climate summit next week, Gates wrote that too many resources are going toward the environment and that more money should go toward fighting poverty and disease.
— CNBC’s Kif Leswing, Jeff Cox, Sean Conlon, Annie Palmer, Lori Ann LaRocco, Jacqueline Corba and Samantha Subin contributed to this report. Josephine Rozzelle edited this edition.
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