Amazon.com, Inc. is initiating a historic layoff of approximately 10,000 employees, a move that represents about 3% of its corporate workforce of over 1.5 million. This decision follows a staggering 45% drop in stock value this year, with shares trading under $100 for the first time and a total loss of $1 trillion in market capitalization. Despite reporting a modest 7% year-over-year revenue growth led by a surge in Amazon Web Services, the company is under pressure to streamline operations as it navigates a challenging economic landscape.
“Amazon · is listed as · NASDAQ: AMZN”
“Amazon · is diversified enough · to remain a relevant business for decades”
“Amazon · has · stock price · down 48% this year”
“Amazon and Meta · will have to appoint · data protection officers · based in India to represent them”
“Amazon · plans to lay off · employees · 10000”
“Amazon’s stock · declined · this year · 45%”
“Amazon.com · fell · percentage · nearly 1%”
“Amazon.com · fell · percentage · 1%”
“AQR Capital · held a stake in · Amazon.com, Inc. (NASDAQ:AMZN) · 3.7 million shares worth $422 million in Q3 2022”
“Amazon Web Services · would establish · an infrastructure region in Spain · investing up to $2.6 billion over a decade”
“Amazon.com, Inc. (NASDAQ:AMZN) · reported · 7% year-over-year revenue growth · driven by 33% growth in AWS”
“Amazon.com, Inc. (NASDAQ:AMZN) · has a share of · e-commerce · roughly 40%”
