Senator Elizabeth Warren is questioning several major companies about their recent waves of layoffs. In letters sent Sunday to executives at firms including tech giants Amazon (AMZN) and Meta (META), Warren asked the companies to explain their job cuts. She requested that they provide details by March 30 on how much they benefited from the 2025 tax cuts under President Trump’s One Big Beautiful Bill Act. She also asked whether they expect tariff refunds and whether they contributed financially to Trump-related projects.
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New trading tool for AMZN bullsThese questions come as the companies collectively account for tens of thousands of job losses in recent months. Warren warned that workers losing their jobs now may struggle to find comparable employment because the labor market has become more difficult. While the overall layoff rate remains relatively low, job growth has slowed, fewer workers are leaving their positions voluntarily, and competition for entry-level jobs has increased, even among experienced professionals. As a result, some newly unemployed workers may have to accept lower-paying jobs if they can find work at all.
At the same time, Warren is asking why companies are cutting jobs after receiving tax benefits and reporting strong profits. For example, an analysis by the Institute on Taxation and Economic Policy found that Meta paid an effective federal tax rate of just over 3.5% in 2025, its lowest rate since becoming a public company in 2012. Reports have also suggested that Meta may consider laying off as much as 20% of its workforce, although the company has called those reports speculative. Separately, Amazon said it laid off about 16,000 workers to reduce bureaucracy.
Which Tech Giant Is the Better Buy?
Turning to Wall Street, out of the two stocks mentioned above, analysts think that META stock has more room to run than AMZN. In fact, META’s price target of $858.86 per share implies 37% upside versus AMZN’s 32.5%.
