Amazon.com Cuts Work Force by 150
According to published reports, Amazon.com (AMZN) spokesman Bill Curry said the layoffs, which amount to 2 percent of its total work force are the result of a operational reviews, and would occur across the company. No specific departments were mentioned and calls seeking further comment were not returned.
The move follows on the heels of the busiest time of year for the company. Amazon emerged as the biggest winner of the season among online retailers by capturing 10 percent of all e-commerce sales made in the fourth quarter of 1999. Amazon has also become the new market leader in two markets: Music/Video and Electronics, according to a recent study by Harris Interactive.
The site's popularity among investors is dropping, however, as its stock
price has been moving south as of late. The company is currently trading at
62, after reaching a high of 113 in December.
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January 6th, 2009, posted by admin
