Amazon’s CEO, Andy Jassy, revealed plans to further reduce costs in the company’s fulfillment network, following recent staff reductions across various divisions.
In a letter to shareholders, Jassy outlined the firm’s commitment to lowering the cost of serving customers while enhancing delivery speed. He emphasized challenging existing beliefs within the fulfillment network and reassessing every aspect to identify areas for cost optimization.
Despite Amazon’s status as the world’s leading cloud computing services provider, its shares experienced a 1% decline in premarket trading following Jassy’s announcement. The company has implemented significant job cuts in divisions such as Amazon Web Services, Prime Video, healthcare, and Alexa over the past few months, extending a trend that began two years ago.
Source: Reuters