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TSX Steadies After Bond Rout | Canadian Money Brief — May 19, 2026

  TSX Steadies After Bond Rout — But Iran Uncertainty Keeps a Lid on Gains Canadian equities attempt a cautious bounce this morning after last week's sharp sell-off. Oil near US$100 props up energy shares, while gold cools in Canadian-dollar terms and the loonie holds a fragile grip at 72–73 cents US. Canadian Money Brief  ·  moneysavings.ca  ·  May 19, 2026 TSX ~34,020 ▲ Recovering CAD/USD $0.727 → Flat WTI Oil ~US$100 ▲ Elevated Gold (CAD) ~$6,243/oz ▼ Pullback BoC Rate On Hold → Patient Overview Canadian markets opened cautiously higher this Tuesday after the S&P/TSX Composite suffered its worst single-session drop in weeks on Friday, closing at 33,833 — a decline of 1.27% — as a global bond-market selloff combined with stalled US–Iran negotiations hammered sentiment. Today's session opened around 34,027 , with the index trading in a tight range of roughly 33,745 to 34,175, suggesting investors are rebuilding positions but remain wary. The dominant story...
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Amazon to Slash 30,000 Corporate Jobs in Historic Workforce Reduction

 


Amazon is preparing to cut 30,000 corporate positions, marking the largest layoff in the company’s history. The move, expected to begin this week, represents nearly 10% of Amazon’s 350,000 corporate employees, though it is a small fraction of its overall global workforce of 1.55 million.

The layoffs will affect multiple divisions, including Human Resources, Devices, Services, Operations, and Amazon Web Services (AWS). Managers in impacted teams were briefed in advance, with employees set to receive official notifications via email. This restructuring follows Amazon’s earlier cuts of 27,000 jobs in 2022, as the company continues to adjust after pandemic-era overhiring.

Executives have pointed to AI-driven automation and cost-cutting measures as key drivers of the decision. By streamlining operations and reducing management layers, Amazon aims to boost efficiency and redirect resources toward high-growth areas. Despite reporting strong profits, the company is under pressure to remain competitive in a rapidly evolving tech landscape.

Industry analysts note that Amazon’s decision mirrors a broader trend across the technology sector, where major firms are increasingly relying on artificial intelligence to replace routine corporate functions. While the cuts will be painful for affected employees, Amazon insists the restructuring is necessary to ensure long-term growth and innovation.

This development underscores the shifting balance between human labor and automation in the corporate world. For Amazon, the challenge will be maintaining morale and productivity while navigating one of the most significant workforce shakeups in its history.


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