In May 2021, e-commerce giant Amazon (NASDAQ: AMZN) was valued at almost $1.9 trillion. High inflation and rising interest rates have crushed consumers' spending power, which has been a drag on Amazon's biggest revenue driver: its retail business. Read More...
Motley Fool
Is Amazon Wasting Money on Prime Video?
After years of kneeling at the altar of long-term thinking and bold experimentation, Amazon (NASDAQ: AMZN) finally seems to be getting religion on the bottom line. The company is cutting costs like never before, taking an ax to formerly promising new ventures like Amazon Care and announcing its first major round of layoffs, dismissing 10,000 corporate employees. A sizable portion of those layoffs are coming from the company’s Alexa and Devices division, where, according to Business Insider, the company is losing $10 billion a year on the voice-activated technology.
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