"job for life" died at the end of the 1980s, Amazon is no different!
Why is this all over the news? It's just a 5% reduction, my sympathy if you're one of those affected but companies make headcount cuts all the time when economies take a downturn. Is Amazon going to continue to grow indefinitely? No. Does Bezos and co have to manage Amazon just like every other company on the planet? Yes.
Try working for companies when they state 25% headcount drop, then watch morale plumment for weeks or months at a time!