Amazon (NASDAQ:AMZN) CEO Andy Jassy is spearheading an effort to trim costs at the e-commerce and cloud giant, according to the Wall Street Journal.
After pausing corporate hiring earlier this month and scrapping certain projects, the Journal reports that the chief executive has told employees in certain unprofitable segments to seek roles elsewhere within the company as more projects are due to be shuttered or suspended. Citing people familiar with the review, the report indicates Jassy and his team have identified areas of the sprawling business “where certain roles are no longer necessary” and employees can be reallocated. The loss-making Alexa business, which enlists more than 10K employees, is said to be under particular scrutiny.
“There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets,” Jassy told analysts after the company’s late October earnings report, foreshadowing such a review.
Read more on the stock’s CPI-driven surge on Thursday.