Amazon layoffs, Qualcomm's AI chips, Airbnb cracks down on Halloween and more in Morning Squawk

In a significant restructuring move, Amazon has announced plans to lay off 14,000 employees, marking the largest cut in its history. This decision, reported by CNBC's Annie Palmer, is expected to affect nearly all sectors within the company. Beth Galetti, Amazon’s senior vice president of people experience and technology, emphasized the need for a leaner organizational structure with fewer layers. As the second-largest private employer in the United States, Amazon employs over 1.5 million people. The latest layoffs represent approximately 4% of its corporate and technology workforce. Earlier this year, CEO Andy Jassy hinted at a potential workforce reduction linked to the adoption of artificial intelligence, as the company joins a growing number of large firms experiencing enhanced productivity through AI. Meanwhile, Qualcomm has made headlines with the announcement of its new artificial intelligence accelerator chips, positioning itself as a competitor to established players like Nvidia and AMD. This move underscores the expanding market for AI-related technology within data centers. In other news, Treasury Secretary Scott Bessent has narrowed down the list of candidates vying to replace Federal Reserve Chair Jerome Powell to five names, including Fed Governors Christopher Waller and Michelle Bowman. President Donald Trump indicated he might make his selection known by the end of 2025. On the corporate front, shares of iRobot plummeted by over 33% after the company revealed that talks with its last potential buyer have stalled, following a protracted exclusive negotiation period. iRobot has been seeking a buyer since March after Amazon withdrew its acquisition offer last year. As Halloween approaches, consumers are facing steep price increases on seasonal items, with some prices soaring by as much as 300% due to rising tariffs affecting suppliers. Joe Ens, CEO of Signature Brands, expressed hope that shoppers will accept these higher prices to maintain traditional festivities. The National Retail Federation anticipates record spending of $114 per consumer this Halloween. Additionally, Airbnb is implementing measures to prevent large gatherings at its rentals during Halloween weekend through its anti-party technology, aiming for a quieter holiday. In a thought-provoking letter ahead of an upcoming U.N. climate summit, Bill Gates shared his perspective on climate change, asserting that while it is crucial, it should be balanced with concerns for overall human welfare. He advocates for a shift in resource allocation toward combating poverty and diseases, highlighting the need for a comprehensive approach to global challenges.