The company told Wall Street it had tightened its belt in the past and could do so again. Last week, Amazon executives met with institutional investors, according to three people, just as its stock plunged to its lowest level since the early days of the pandemic, Erase 1 trillion dollars of value Where Andy Gacy He took over as CEO last year.
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Mr. Gacy, who previously ran Amazon’s lucrative cloud computing business, has been closely scrutinizing the business to cut costs quickly. At first he backed out of warehouse expansion that had been super-charged during the pandemic, then moved on to other parts of the company.
In recent months, Amazon has also shut down or scaled back a handful of initiatives, including Amazon Care, its service that provides primary and urgent health care that I failed to find it Enough customers according to Scout, a cooler sized home delivery bot, which employs 400 people Bloomberg; and Fabric.com, a subsidiary that has sold sewing supplies for three decades.
From April to September, it reduced the number of employees by nearly 80,000 people, primarily reducing the number of its hourly employees. high drain.
Amazon froze hiring for several smaller teams in September. In October, it stop filling More than 10,000 roles open in the core retail business. 2 weeks ago, it froze Corporate Recruitment across the company, including its cloud computing division, for the next few months.
That news came so suddenly that recruiters didn’t receive talking points for job candidates until about a week later, according to a copy of the talking points seen by The New York Times.
Devices and Alexa internally have long been seen as at risk of getting hurt. Alexa and related devices rose to a company’s top priority as Amazon raced to create the groundbreaking voice assistant, which leaders believed could succeed in mobile phones as the next primary consumer interface. From 2017 to 2018, Amazon doubled employees on Alexa and Echo devices to 10000 engineers. At one point, any engineer who gets a job offer for other roles at Amazon was also supposed to get an offer from Alexa.
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