Amazon

Amazon
Lay Offs
Unemployment

Amazon Shrinks Staff by 100,000, Joining Netflix and Google in Hiring Slowdown

(Bloomberg) — With recession fears mounting—and inflation, the war in Ukraine and the lingering pandemic taking a toll—many tech companies are rethinking their staffing needs, with some of them instituting hiring freezes, rescinding offers and making rounds of layoffs. Amazon.com Inc. was the latest company to discuss its belt-tightening efforts this week. During its quarterly […]

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Amazon
Leasing

Amazon Aims to Sublet, End Warehouse Leases as Online Sales Cool

(Bloomberg) — Amazon.com Inc., stuck with too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation. The excess capacity includes warehouses in New […]

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Amazon
Tech Industry
Tech Stocks

Amazon Deepens Gloom for Battered E-Commerce Stocks

(Bloomberg) — The historic rout in Amazon.com Inc.’s shares last week highlights how difficult the environment has become for e-commerce stocks after their pandemic-driven boom, with investors set for another rollercoaster in coming days. Etsy Inc., Wayfair Inc. and Shopify Inc. are hurtling toward earnings reports this week in the shadow of Amazon’s worst selloff […]

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Amazon
Online Marketplace
Online Retailer

Shopify’s 50% Slump Proves That It’s No Amazon

(Bloomberg) — Shopify Inc. has been called “Amazon Junior.” Those shoes are proving too big to fill. Both companies are seen as bellwethers for the e-commerce sector and they are index heavyweights, too: Shopify is 3.1% of Canada’s benchmark stock index and Amazon.com Inc. is 3.7% of the S&P 500. Unfortunately for Shopify investors, that’s […]

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Amazon

Amazon Closes MGM Deal After Regulators Decline to Oppose It

(Bloomberg) — Amazon.com Inc. said it closed the $8.5 billion acquisition of film studio Metro-Goldwyn-Mayer after regulators declined to challenge the deal, cementing the company’s biggest takeover in five years. The closing, announced Thursday in a statement on the company’s website, marks the latest deal by a U.S. technology giant to win approval despite criticism […]

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Amazon
Stock Split

Amazon Jumps on Plan to Split Stock, Buy Back Up to $10 Billion

(Bloomberg) — Amazon.com Inc. is planning to split its stock for the first time in more than two decades in a move that would spell the end of four-digit stock prices for the biggest U.S. technology companies. The e-commerce giant plans to boost its outstanding shares by a 20-to-1 ratio, under a plan disclosed late […]

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Amazon
Auto-Sensor
Self Driving Cars

Amazon in Pact for Potential Stake in Auto-Sensor Maker Velodyne

(Bloomberg) — Velodyne Lidar Inc. shares more than doubled in late trading after Amazon.com Inc. acquired warrants that could lead to a small stake in the auto-sensor maker. Velodyne agreed to issue to Amazon a warrant to acquire more than 39 million shares or as much as 5%, according to a filing; the warrant shares […]

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Amazon
Wages

Amazon Is Raising Base Salary Cap to $350,000 From $160,000

(Bloomberg) — Amazon.com Inc. is more than doubling the maximum base salary it pays employees to $350,000 from $160,000, the company told employees Monday. “This past year has seen a particularly competitive labor market, and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive […]

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Amazon

Amazon’s $191 Billion Jump Sets Record for Market Value Gain

Amazon.com Inc. gave the market back what Meta Platforms Inc. took away — or at least a big chunk of it. The e-commerce giant’s shares surged 14% on Friday, adding about $191 billion in market value, after investors cheered its fourth-quarter earnings report. The advance was the biggest single-day gain in U.S. stock market history, […]

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Amazon
Online Marketplace
Online Retailer

Amazon Prime Fee Rising to $180, Not $139, for Many Members

(Bloomberg) — When Amazon.com Inc. announced it was raising the price of its Prime program, the company said an annual subscription would climb $20 to $139. But slightly more than half of Prime members will end up forking over almost $180 a year. That’s because they pay each month, a fee that’s rising to $14.99 […]

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Amazon
Earnings Reports

Amazon Shares Jump as Cloud Unit Helps Drive Profit Past Estimates

(Bloomberg) — Amazon.com Inc. reported a a strong holiday quarter, calming Wall Street’s concerns that the company was headed for a slowdown. Profit beat expectations, helped by the cloud-computing division, and investors cheered a price hike for the company’s Prime subscription service. The shares jumped about 18% in extended trading. Fourth-quarter sales increased 9.4% to […]

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