Amazon.com Inc. is cutting 16,000 corporate jobs worldwide in an effort to remove layers of bureaucracy and “increase ownership,” becoming the latest company to target managers for layoffs in recent years.

Many corporations binged on labor during the pandemic. Now, facing economic uncertainty and AI threats, they are slimming down.

Amazon is cutting another 16,000 jobs as the technology giant continues to remake itself in “a world that’s changing faster than ever,” as noted in a memo to staff Wednesday from Beth Galetti, who leads human resources operations for the company.