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I'm not currently with Amazon, and wasn't part of AWS when I was there, but I had the impression they were probably more stable than the rest of the company. At the time. Shrug.
Also, if they're actively recruiting, then they have a need to fill positions on teams. And at this point, I'd assume any company that's gone through a substantial layoff round is probably good for now. I'd be more concerned about a tech company that *hasn't* downsized in the past year and a half ... they might still jump on the "this will improve our stock value / financial outlook" bandwagon.
"Stability" is a myth. Tech was on a nonstop growth path, following the 2000 "dot com bust" until the start of the pandemic in 2020. Then there was an unsustainable burst of hiring, followed by a course-correction (which is more-or-less finished by now), and now there's a bit of "layoff contagion," but again, I suspect that most bigger companies are done with that, are hiring where they already planned to, and some might realize they can't actually meet their commitments with reduced staff and will (quietly, so the shareholders don't notice) hire back up to the appropriate levels.
Tech isn't going anywhere. Feel free to apply. Do your own due diligence re: AWS specifically. Hopefully somebody with more current insight will chime in here. (Pun intended, now that I think of it. Amazon Chime. Heh.)
Love it I appreciate the response. Yeah Deloitte and other firms went through the same course correction on the consulting side, although technical backgrounds (I’m in DevOps/cloud infra) were largely spared as business in that arena never really stopped.