News Formal

Amazon CEO Andy Jassy says economy will test 'long term resolve' of companies

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

Amazon CEO Andy Jassy said the company has been trying to 'streamline' costs while also trying to invest in areas they they believe will impact the company in the long term.

"In those cases, we either wound those down or slowed those down to streamline a little bit as part of that cost exercise," he added.

Shortly before the Times reported the pending layoffs, people Jassy began a cost-cutting review of the company, people familiar with the matter told the Wall Street Journal. Worker selects and packs items during Cyber Monday at the Amazon fulfillment center in Robbinsville Township in N.J., Nov. 28, 2022.Amazon had already warned employees in underperforming units to prepare to look for another job as the company makes cutbacks amid the uncertain economic environment, sources told the Journal.

Before that, the company even initiated a hiring freeze saying it wanted to "balance our hiring and investments with being

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Amazon built the largest warehouse I have ever seen on land they purchased from Opa-Locka airport. I use Amazon more than eBay now.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amazon CEO says company won't take down antisemitic filmAmazon CEO Andy Jassy said Wednesday the company does not have plans to stop selling the antisemitic film that gained notoriety recently after Brooklyn Nets guard Kyrie Irving tweeted out an Amazon link to it. Pressure has been mounting on Amazon to discontinue sale of the film, called “Hebrews to Negroes: Wake Up Black America,' since Irving shared the link to the documentary with his millions of Twitter followers in October.
Source: YahooNews - 🏆 380. / 59 Read more »

CEO of Plano-based vehicle interior company receives 40 under 40 recognition - CEO SpotlightKyle Bailey, the CEO and founding partner of Plano-based NuVinAir was recognized earlier this month by Auto Remarketing as one of the industry's 40 under 40 recipients. NuVinAir is a franchise-supported company that creates healthy vehicle interiors for the automotive industry.
Source: KRLD - 🏆 75. / 68 Read more »