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Search resuls for: "Jeffrey Dastin Tiyashi Datta"


4 mentions found


☆ Amazon deepens tech-sector gloom with another 9,000 layoffs
  + stars: | 2023-03-20 | by ( Jeffrey Dastin Tiyashi Datta | Jeffrey Dastin | Tiyashi Datta | ) www.reuters.com   time to read: +3 min
[1/4] The Amazon.com logo and stock price information is seen on screens at the Nasdaq Market Site in New York City, New York, U.S., September 4, 2018. REUTERS/Mike Segar/File PhotoMarch 20 (Reuters) - Amazon.com Inc (AMZN.O) on Monday said it would axe another 9,000 roles, piling on to a wave of layoffs that has swept the technology sector as an uncertain economy forces companies to get leaner. The layoffs will affect Amazon's streaming unit Twitch as well, following cuts that began in November focused on the company's devices, e-commerce and human-resources organizations. Amazon's stock fell 2%. The company has scaled back or shut down entire services like its virtual primary care offering for employers in recent months.
☆ Amazon still grasping for success with supermarkets, CEO says
  + stars: | 2023-02-03 | by ( Jeffrey Dastin Tiyashi Datta | Jeffrey Dastin | Tiyashi Datta | ) www.reuters.com   time to read: +2 min
Amazon has long viewed grocery as a key to unlock more consumer spending. Despite Amazon's large business from packaged food and other goods, it has yet to win significant market share in perishables, Jassy said. Michael Pachter, an analyst with Wedbush Securities, said Amazon has itself to blame, having drawn consumers to online shopping decades ago. "They are flushing money down a toilet pursuing Amazon Fresh stores" and thinking "they can brand a new concept and capture share from retailers who have been successful for decades." The company has a few dozen Amazon Fresh stores so far, Jassy said.
☆ Amazon's outlook disappoints as customer budgets stay tight
  + stars: | 2023-02-02 | by ( Jeffrey Dastin Tiyashi Datta | Jeffrey Dastin | Tiyashi Datta | ) www.reuters.com   time to read: +3 min
And while Amazon's holiday revenue beat Wall Street's expectations, sales growth from its lucrative cloud-computing division slowed during the fourth quarter. Amazon Chief Financial Officer Brian Olsavsky told reporters that the company expects slower cloud growth rates for the next few quarters as it worked with customers to optimize costs. Olsavsky also said the company remains nervous about consumer spending and how people will prioritize budgets moving forward. Facing high inflation and an uncertain economy, CEO Andy Jassy has aimed to slash costs across Amazon's vast array of businesses. The division fell short of estimates of more than $22 billion in fourth-quarter cloud sales, increasing them 20% to $21.4 billion.
☆ Amazon predicts sales growth slowdown for holidays, crushing shares
  + stars: | 2022-10-27 | by ( Jeffrey Dastin Tiyashi Datta | Jeffrey Dastin | Tiyashi Datta | ) www.reuters.com   time to read: +5 min
Oct 27 (Reuters) - Amazon.com Inc (AMZN.O) on Thursday forecast a slowdown in sales growth for the holiday season, disappointing Wall Street and warning that inflation-wary consumers and businesses had less money to spend. In a call with reporters, Amazon Chief Financial Officer Brian Olsavsky said the company was bracing for slower economic growth. Amazon forecast net sales of between $140 billion and $148 billion, or growth as little as 2% from a year earlier. The Amazon logo is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File PhotoPrior holiday quarter sales growth was 9% in 2021 and 38% in 2020. Amazon's cloud sales growth has ticked down consistently in the past year.
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