No, that's a hyperbole. They need to shed atleast 50k more to trim the belt. They are still massively bloated compared to their FAANG peers.

Amazon added 750k workers, out of which about 150k were white collar workers, in 2 years and opened a whole lot of fulfillment facilities. This is a huge drag on their cash flows. They need to cut way more than the 27k they announced to turn things around on cash flow basis. Unless they take steps in that direction or announce new lines of revenue I do not see it turning around. So you might see it in the 90 to 100 zone for some time. If you are in it for the short term, try and exit at close to 110.