Amazon.com said Friday that it laid off 150 workers (2 percent of its workforce)--the largest employment cutbacks ever announced by the Internet pioneer.
Published:
5 February 2000 y., Saturday
The cutbacks--at a high- flying company whose founder, Jeff Bezos, only recently was named Time magazine_s "person of the year"--came as a surprise. They will be across the board, but mainly at Amazon_s Seattle headquarters, the company said. Amazon_s
stock fell sharply in trading Friday, down as much as 10 percent. "We regularly review the mission of the company and make sure we have the right skills to carry out the jobs," spokesman Bill Curry said. Curry said the cutbacks stem from an "ongoing process" of reviewing the Internet retailer_s organizational structure. He would not confirm or deny whether more layoffs are imminent. The layoffs come just five days before Amazon will report fourth-quarter earnings. The results will be closely watched by Wall Street. Many analysts, for example, will be watching to see whether Amazon turned a profit in its U.S. book business for the latest quarter, as promised.
Šaltinis:
Amazon.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Bank DnB NORD A/S increasing its holdings in its Lithuanian subsidiary to 99.84 percent through acquisition of shares from minority shareholders.
more »
AB Bank SNORAS will grant LTL 35 million for financing the small and medium businesses on the exclusive conditions.
more »
Rejecting survival plans from both General Motors and Chrysler, President Barack Obama warned the ailing US automakers they could be forced into bankruptcy if they don't find a way to slash their debt.
more »
Prevailing wisdom says when the going gets tough the weary go drinking. The demand for beer exceeds the demand for all other alcoholic beverages in USA.
more »
Things have been moving slowly for Swiss watchmakers in recent months. The global economic downturn has hit the country's third most important industry hard.
more »
The move came a day before the U.S. government was due to outline new steps to help GM and Chrysler as part of the federal bailout.
more »
With the European year of creativity and innovation in full swing, leading figures warn against cutting back on research and development in times of crisis.
more »
Wall Street has been looking for signs of a bullish comeback, and today's surprise news on the economic front revived a buying spree... started by Monday's 7% rally.
more »
With the economic crisis eating away at public finances, budget deficits in five countries are expected to exceed the 3% of gross domestic product allowed by the EU.
more »
China is calling for a new global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.
more »