Retirement of billionaire, 84, leaves Rupert Murdoch as last of that generation to be actively involved in media business

Billionaire media mogul John Malone, the so-called “Cable Cowboy”, is stepping down as chair of his powerful empire.

Malone will stand aside in January from his roles overseeing Liberty Media, owner of Formula One, and Liberty Global, the firm behind telecommunications operator Virgin Media O2, it was announced today.

Figure represents nearly 10% of the company’s roughly 350,000 corporate employees

Amazon is preparing to lay off tens of thousands of corporate workers, reversing its pandemic hiring spree. The cuts come months after the retail giant’s CEO warned white-collar employees their jobs could be taken by artificial intelligence.

The Seattle-based technology firm is planning to cut as many as 30,000 corporate jobs beginning Tuesday, media outlets including Reuters and the Wall Street Journal reported, citing unnamed sources familiar with the matter, as it tries to cut costs and undo the vast recruitment drive it embarked on at the height of the coronavirus pandemic, which unleashed an extraordinary – but fleeting – surge in demand for online shopping.