Shares of Amazon were rising early on Tuesday as the company said it intends to cut 14,000 corporate jobs and suggested there will be further rounds of layoffs in future.

"We expect to continue hiring in key strategic areas while also finding additional places we can remove layers, increase ownership, and realize efficiency gains," Beth Galetti, senior vice president of People Experience and Technology at Amazon, said in an internal memo announcing the reduction.

Amazon shares were up 0.5% in premarket trading, having gained 1.2% the previous day when it was initially reported the cuts could be as many as 30,000 jobs.

The Wall Street Journal said cuts were being targeted across the corporate office, including human resources, cloud computing, advertising, and other business groups. They come after Amazon said earlier this month that it was hiring 250,000 seasonal workers.

The e-commerce and cloud computing giant currently has around 350,000 corporate employees plus another 1.2 million warehouse workers, for a total of 1.55 million employees worldwide.

The company reports quarterly earnings on Thursday.

Amazon CEO Andy Jassy said in a June blog post that the company "will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs."

Shares of Amazon have risen less than 4% this year, versus the S&P 500's gain of nearly 17%. It has lagged behind stocks of other tech giants like Alphabet, Microsoft, and Nvidia, which have soared amid growing interest in artificial intelligence.