Tag: Amazon revenue

Amazon to Sell Bay Area Office Complex as Sales Growth Cools
27Jan By adminNo Comments
Technology

Amazon to Sell Bay Area Office Complex as Sales Growth Cools

[ad_1] Amazon.com Inc. is selling a vacant Bay Area office complex purchased about 16 months ago, in an effort to unwind a pandemic-era expansion that left it with a surfeit of warehouses and employees. Amazon.com Inc. is selling a vacant Bay Area office complex purchased about 16 months ago, the company's latest effort to unwind a pandemic-era expansion that left it with a surfeit of warehouses and employees. Amazon in October 2021 paid $123 million for the 29-acre property in Milpitas, California, part of a strategy to lock up real estate near big cities that could be used for new warehouses and facilitate future growth. The Metro Corporate Center is now in contract with a commercial real estate developer, according to three people familiar with the situation, who requested ano...
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Amazon axes charity program amid wider cost-cutting moves
20Jan By adminNo Comments
Technology

Amazon axes charity program amid wider cost-cutting moves

[ad_1] Amazon is ending a charity donation program it ran for a decade in its latest cost-cutting move. Amazon is ending a charity donation program it ran for a decade in its latest cost-cutting move. In a blog post on Wednesday, the company said the program, called AmazonSmile, will shut down by February 20 because it had “not grown to create the impact” the retailer had hoped. The program allowed Amazon to donate a small percentage of eligible purchases to a charity selected by shoppers. "With so many eligible organizations—more than 1 million globally—our ability to have an impact was often spread too thin,” the company said. The decision also comes as the Seattle-based company is laying off workers and axing different areas o...
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Amazon to layoff 10,000 employees: report
15Nov By adminNo Comments
Technology

Amazon to layoff 10,000 employees: report

[ad_1] Amazon is preparing to lay off as many as 10,000 employees, making the e-commerce behemoth the latest tech giant to unleash a large-scale redundancy plan. Amazon is preparing to lay off as many as 10,000 employees, The New York Times reported on Monday, making the e-commerce behemoth the latest tech giant to unleash a large-scale redundancy plan.This would represent a little less than one percent of the group's total payroll, which had 1.54 million employees worldwide at the end of September, not counting seasonal workers who are recruited during periods of increased activity like the Christmas holidays. The Times report said the affected positions will be located in Amazon's devices department, the retail division and human resources. The distribution by country was not specif...
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Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value
10Nov By adminNo Comments
Technology

Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value

[ad_1] Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value. Amazon.com Inc. is the world's first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in the stock this year. Shares in the e-commerce and cloud company fell 4.3% on Wednesday, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak. While technology and growth stocks have been punished throughout the year, ...
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