Amazon is laying off roughly 200 employees in its North America stores division, the company confirmed.

The core retail business, which Amazon also refers to as its stores division, encompasses a wide range of divisions, including its private label brands, Prime membership program, and consumables business.

“We’ve adjusted parts of our North America Stores team because we believe this structure will better enable us to deliver on our priorities,” an Amazon spokesperson said in a statement. “As part of these changes, we’ve made the difficult decision to eliminate a small number of roles, and we’re committed to supporting affected employees through their transition.”

The layoffs included employees in the fashion and fitness business, among others, the spokesperson said. Business Insider earlier reported on the job cuts.

Amazon CEO Andy Jassy has moved to rein in costs across the company, laying off about 27,000 employees since the beginning of 2022. The bulk of the job cuts came in 2022 and 2023, though they have been ongoing at a smaller scale, and have impacted almost every business across the company’s portfolio.

Amazon has also shuttered some of its more experimental and unprofitable initiatives, including its telehealth offering, a brick-and-mortar delivery program, and try-on service for clothing and shoes.

WATCH: Amazon Prime Video head of global sports on the brand’s ambitions

Cryptocurrencies jumped on Thursday as investor appetite shifted to smaller, higher risk coins ahead of President-elect Donald Trump’s inauguration.

XRP and litecoin were among the biggest movers, up 11% and 20%, respectively, according to Coin Metrics. The CoinDesk 20 index, a broad crypto market benchmark, gained 4%.

Meanwhile, bitcoin was up less than 1% at $100,000, following a two-day rally of about 7% this week. Ether fell 3% on Thursday.

“Retail investors [are] looking for opportunities as a new pro-crypto administration gets ready to roll in,” Alexander Blume, CEO of the adviser firm Two Prime Digital Assets, told CNBC. “The Trump administration is a rising tide that will lift all boats in crypto, and altcoins are seeing some early gains from this.”

Trump’s inauguration is slated for Monday.

Trading platform operator Coinbase added 2% and Robinhood rose more than 1%. MicroStrategy, which trades as a bitcoin proxy, was also up more than 1%.

“The first 50 days of Trump’s presidency will determine bitcoin’s trajectory in 2025,” said Gracy Chen, CEO of crypto exchange Bitget. “The crypto market’s expectations for his inauguration and first steps as president are extremely high, which is confirmed by the sensitivity of crypto market prices to statements and appointments made by him in the fourth quarter of 2024.”

During his campaign, Trump promised to install a crypto advisory council in his first 100 days in office and replace Securities and Exchange Commission chair Gary Gensler, who became a notable adversary of the industry during his tenure. The CoinDesk 20 advanced 98% in the one month following the November election. In that same period, bitcoin posted a 46% gain.

Another thing driving the action in small-cap cryptocurrencies is the possibility that the government’s “expected strategic reserve may include other ‘American’ cryptocurrencies,” like XRP and the Solana token, Blume said.

“This is unlikely, [but] it comes as a surprise and is fueling speculators to buy the coins,” he said. “The best long-term value for investors will still be in bitcoin.”

Trump has also promised to establish favorable regulation to encourage domestic “made in the USA” bitcoin mining and launch a strategic national bitcoin stockpile. Investors expect volatility in the flagship cryptocurrency this year, with bitcoin stuck in a tug of war between investors’ concerns about rising inflation under Trump and their optimism over the his pro-crypto leadership.

The Biden administration on Thursday announced an executive order on cybersecurity that imposes new standards for companies selling to the U.S. government and calls for greater disclosure from software providers.

The White House is looking to put in place new rules “to strengthen America’s digital foundations,” Anne Neuberger, deputy national security advisor for cybersecurity and emerging technology, said in a briefing with reporters on Wednesday.

Cyberattacks have caused an increasing number of disruptions inside federal agencies and companies in recent years.

Attackers have pulled off ransomware attacks at Change Healthcare, the operator of the Colonial Pipeline and the Ascension health care system. And Microsoft said in 2023 that Chinese attackers had broken into U.S. government officials’ email accounts, prompting a critical federal report and a series of changes at the software maker.

Companies selling software to the U.S. government will have to demonstrate that their development practices are secure, according to a statement. There will be “evidence that we post on a government website for all software users to benefit from,” Neuberger said.

The General Services Administration will have to make policy that makes cloud providers provide information to clients on how to operate securely.

Companies selling products and services to the U.S. government must adhere to a new set of security practices as a result of the executive order.

Last week the White House announced the U.S. Cyber Trust Mark label to help consumers evaluate internet-connected devices. The executive order states that the U.S. government will only purchase such products if they carry the label, starting in 2027.

The order also directs the National Institute for Standards and Technology to come up with guidance for handling software updates. In late 2020, hackers gained access to Microsoft and U.S. Defense Department systems by targeting updates to SolarWinds‘ Orion software.

It’s not clear if President-elect Donald Trump’s new administration will uphold the executive order. Biden’s cybersecurity officials have not met with those who will take up the work for Trump.

“We haven’t discussed, but we are very happy to, as soon as the incoming cyber team is named, of course, have any discussions during this final transition period,” Neuberger said.

WATCH: Fmr. CISA Director Chris Krebs on cyberthreats: Expect an increase of offensive cyber activity