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☆ Amazon To Cut 9,000 More Jobs After Earlier Layoffs
  + stars: | 2023-03-20 | by ( Sebastian Herrera | Joseph De Avila | ) www.wsj.com   time to read: 1 min
Amazon said it was laying off 9,000 more jobs, adding to previously announced layoffs. Amazon.com Inc. said it would cut 9,000 more corporate jobs across units that include its profitable cloud-computing and advertising businesses, a sign that the company’s cost-cutting is extending into all aspects of its operations as technology giants continue to slash spending. Chief Executive Andy Jassy said in a statement that the company added a significant number of employees in recent years, a step he defended as necessary given what was happening in Amazon’s business at the time.
☆ Amazon to Cut 9,000 More Jobs After Earlier Layoffs
  + stars: | 2023-03-20 | by ( Sebastian Herrera | Joseph De Avila | ) www.wsj.com   time to read: 1 min
Amazon invested heavily in increasing its head count during the early part of the pandemic. Amazon.com Inc. said it would cut 9,000 more corporate jobs across units that include its profitable cloud-computing and advertising businesses, a sign that the company’s cost-cutting is extending into all aspects of its operations as technology giants continue to slash spending. Chief Executive Andy Jassy said in a statement that the company added a significant number of employees in recent years, a step he defended as necessary given what was happening in Amazon’s business at the time.
☆ Courts Side With Big Companies Including Amazon and Experian in Privacy Appeals
  + stars: | 2023-03-16 | by ( Catherine Stupp | ) www.wsj.com   time to read: +5 min
Big companies are winning appeals to overturn regulatory decisions that allege they violated European privacy rules, potentially carving out a path for more businesses to challenge similar sanctions. Courts in the U.K., Spain, Italy and Germany sided with companies including Experian PLC, Amazon. The court rejected the regulator’s argument that collecting personal data to create profiles for marketing purposes intrudes on privacy rights. The court said the regulator had “fundamentally misunderstood” the implications of how Experian used data, and that there were no negative effects for individuals. These recent wins will likely embolden other companies to appeal GDPR violations, said Mr. Machin of Ropes & Gray.
☆ This real estate developer is happy that new home construction is falling
  + stars: | 2023-03-06 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN —Recent headlines point to a slumping US housing market — as mortgage rates average near 7%, an increasing number of potential homebuyers are finding it difficult to finance homes. David O’Reilly, CEO of the real estate developer Howard Hughes Corp., told CNN that he’s “cautiously optimistic” that the residential housing market is rebounding after a downturn in the second half of 2022. Recent data point to doom and gloom for the housing market. Are you having issues attracting new buyers because of higher mortgage rates? On Thursday, Challenger, Gray & Christmas is set to release its job cuts numbers for February, and Friday brings the main show — the US jobs report for February.
☆ Amazon closing some of its cashier-free stores
  + stars: | 2023-03-06 | by ( Chris Isidore | ) edition.cnn.com   time to read: +2 min
New York CNN —Amazon is permanently closing eight of its 29 Amazon Go convenience stores that offer customers the ability to shop without any kind of checkout process. It hailed the stores as the future of shopping, especially for convenience stores in busy downtowns of major cities. In this case, we’ve decided to close a small number of Amazon Go stores in Seattle, New York City, and San Francisco,” said Amazon in an emailed statement. In addition to the 21 Amazon Go stores that will remain, there are two locations in New York that the brand shares with Starbucks. Amazon has been trying its checkout-free technology at select Whole Foods and Amazon Fresh stores in addition to its Amazon Go locations.
☆ Amazon expansion collides with contraction
  + stars: | 2023-03-06 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
NEW YORK, March 6 (Reuters Breakingviews) - Amazon.com’s (AMZN.O) rapid expansion is hitting a wall. When it comes to those trends, even Amazon can’t be too sure. But when it comes to the intersection of hiring and work-from-home trends, even Amazon doesn’t have a crystal ball. Follow @jennifersaba on TwitterCONTEXT NEWSAmazon.com is pausing the construction of its next phase of its second headquarters in Arlington, Virginia, the company said on March 3. In 2018, Amazon awarded the Washington suburb with the promise to invest $2.5 billion and hire 25,000 workers.
☆ Amazon HQ2 Delay Isn’t a Concern, Northern Virginia Officials Say
  + stars: | 2023-03-04 | by ( Scott Calvert | ) www.wsj.com   time to read: 1 min
The site of Amazon’s project in Arlington, Va., on Friday. Officials in Northern Virginia largely played down Amazon.com Inc.’s decision to pause plans for a second phase of its corporate campus in Arlington, Va., describing it as an understandable speed bump on a project already benefiting the local economy. “It really doesn’t concern me. In fact, I’m quite understanding,” said Christian Dorsey , chair of the Arlington County Board, in a call with reporters. “I think that we are still going to see all of the benefits that we envisioned…It’s just going to take a little longer to realize.”
☆ Cuts at Amazon, Other Tech Companies Don’t Spell Recession Yet
  + stars: | 2023-03-04 | by ( Jon Hilsenrath | ) www.wsj.com   time to read: 1 min
Amazon’s pause on construction of its second headquarters in Arlington, Va., sends a downbeat but limited signal about growth. Amazon .com Inc.’s halt to construction of a new headquarters, on top of a parade of high-profile tech layoffs, looks ominous for the economy. But the damage will need to spread much further to signal full-blown recession. When the U.S. has entered recession in the past, weakness has often started in one sector and then spread like brushfire, pulling down a widening array of industries and the people who work in them.
☆ Amazon and Other Tech Firms’ Dwindling Demand Upends Office Market
  + stars: | 2023-03-04 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
Photo: Amanda Andrade-Rhoades for The Wall Street JournalThe site of Amazon’s second headquarters in Arlington, Va., where the company has halted the start of construction on a second phase. Amazon .com Inc.’s decision to delay building part of its Virginia office campus is the latest sign that fading demand from technology companies is becoming a problem for the commercial real-estate sector. Tech giants like Amazon, Alphabet Inc. and Microsoft Corp. for years drove demand for office space, helping prop up building values in cities like New York, San Francisco and Washington, D.C.
☆ Amazon’s and Other Tech Firms’ Dwindling Demand Upends Office Market
  + stars: | 2023-03-04 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
Photo: Amanda Andrade-Rhoades for The Wall Street JournalThe site of Amazon’s second headquarters in Arlington, Va., where the company has halted the start of construction on a second phase. Amazon .com Inc.’s decision to delay building part of its Virginia office campus is the latest sign that fading demand from technology companies is becoming a problem for the commercial real-estate sector. Tech giants like Amazon, Alphabet Inc. and Microsoft Corp. for years drove demand for office space, helping prop up building values in cities like New York, San Francisco and Washington, D.C.
☆ Amazon Pausing Construction of Washington, D.C.-Area Second Headquarters
  + stars: | 2023-03-03 | by ( Sebastian Herrera | Joseph De Avila | ) www.wsj.com   time to read: 1 min
A rendering of part of Amazon’s planned second headquarters in Arlington, Va.Amazon .com Inc. is pausing construction on a massive corporate real-estate project near Washington, D.C., that the company calls a second headquarters, following extensive cost-cutting measures that have included thousands of layoffs. The Seattle-based company said Friday it will temporarily hold off on breaking ground on the second phase of its Arlington, Va., construction complex, where it promised to spend $2.5 billion through 2030 and bring more than 25,000 jobs to the region.
☆ Best Buy, Walmart, other major US retailers tout health services
  + stars: | 2023-03-03 | by ( Katherine Masters | ) www.reuters.com   time to read: +4 min
Electronics retailer Best Buy recently kicked off a partnership with Atrium Health, part of Advocate Health, one of the country’s largest nonprofit hospital systems, Best Buy Chief Executive Officer Corie Sue Barry announced Thursday on a call with analysts. The partnership combines Atrium's hospital-at-home program with Best Buy’s technological services, she said. Best Buy Chief Financial Officer Matthew Bilunas, however, predicted continued growth of the company's health services would contribute to gross profit rate expansion even as it anticipates cooling demand throughout 2023. "The role of technology within health care is becoming more important than ever, and our strategy is to enable care at home for everyone," Barry said. New sign-ups for Best Buy's health services are expected to help drive a 40 to 70 basis point improvement in gross margins this year, despite lower sales.
☆ Amazon is pausing construction on its second headquarters in Virginia
  + stars: | 2023-03-03 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +3 min
CNN —Amazon is pausing construction on its second headquarters in northern Virginia, the company confirmed in a statement to CNN on Friday. John Schoettler, Amazon’s real estate chief, said the company is pushing back the groundbreaking of the second phase of the sprawling new headquarters. The first phase is still under construction and expected to open in June. “We’ve decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit,” Schoettler said in a statement. Amazon’s search for a second headquarters kicked off in 2017, spurring a major competition as local officials across the country competed for the e-commerce giant to bring jobs and other benefits to their communities.
☆ Target Investing $100 Million to Expand Next-Day Delivery
  + stars: | 2023-02-23 | by ( Liz Young | ) www.wsj.com   time to read: +3 min
Target is one of several retailers using stores to fill orders to help manage inventory and the high costs of last-mile delivery. A Target worker loads packages for last-mile delivery at the retailer’s Minneapolis sortation center. Despite slowing growth, online orders make up a substantial portion of Target’s sales. The sortation centers are meant to relieve stores of the burden of sorting packages for final delivery, speeding shipments up in the process. The facilities handled 26 million packages last year, and Target expects that number to double this year.
☆ Amazon delivers a regulatory breather to Big Tech
  + stars: | 2023-02-22 | by ( ) www.reuters.com   time to read: +2 min
The U.S. Federal Trade Commission said it won’t challenge Amazon.com’s (AMZN.O) $3.9 billion acquisition of physician network One Medical. As the deal moves forward, deal-hungry technology giants can take a small breather. One Medical’s revenue accounted for just 0.2% of all U.S. healthcare spending in 2021, according to Amazon. And while the FTC’s concerns about Big Tech seemed limitless, its resources aren’t. Letting the One Medical deal move forward frees up staff to focus on ones that pose a clearer threat to consumers.
☆ FTC won’t block Amazon acquisition of One Medical, but scrutiny of the deal is not over
  + stars: | 2023-02-22 | by ( Brian Fung | ) edition.cnn.com   time to read: +2 min
The One Medical deal would also allow Amazon to expand its telehealth services and acquire valuable relationships with hospital systems, industry analysts have said. But while Amazon can consummate the deal without the immediate threat of an FTC antitrust suit, the agency is still investigating the acquisition. “The FTC’s investigation of Amazon’s acquisition of One Medical continues,” said FTC spokesman Douglas Farrar. The FTC plans to warn Amazon it may close the deal at its own risk, an agency official said. Amazon’s deal to acquire One Medical follows its 2018 purchase of the online pharmacy service PillPack, which later became Amazon Pharmacy.
☆ FTC Alleges Supplement Company ‘Hijacked’ Amazon Reviews to Boost Sales
  + stars: | 2023-02-21 | by ( Megan Graham | ) www.wsj.com   time to read: +4 min
Nutritional supplement company Bountiful Co. will pay $600,000 following Federal Trade Commission allegations that it made products on Amazon look like they had more reviews and higher average ratings than they really did. The FTC said the case marks its first enforcement action against a practice called “review hijacking,” in which a marketer makes reviews for one product appear to apply to another. Products considered variations share the same product page on Amazon as alternate choices, such as a T-shirt offered in multiple colors. The FTC said the decision to accept the proposed consent agreement was unanimous, with the commission voting 4-0 in favor of doing so. Though Amazon has been active in pursuit of fake review sellers, Mr. Freund said problems remain.
☆ Walmart’s ho-hum is the new fabulous
  + stars: | 2023-02-21 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 21 (Reuters Breakingviews) - At Walmart (WMT.N), boring is the new fabulous. But Walmart benefits from being big, established, and, importantly, profitable, and the latter can’t be said for Amazon.com’s (AMZN.O) retail business. As the shine comes off of technology companies, Walmart’s failures are an afterthought. Walmart’s commitment to keeping prices low is reflected in its operating margins that currently hover at a slim 3%. Walmart’s enterprise value to this year’s EBITDA, at 12 times, is a hair more than Amazon’s.
☆ ChatGPT launches boom in AI-written e-books on Amazon
  + stars: | 2023-02-21 | by ( Greg Bensinger | ) www.reuters.com   time to read: +8 min
In the edition, Sammy the Squirrel, crudely rendered also using AI, learns from his forest friends about saving money after happening upon a gold coin. While that may not sound like much, it is enough to inspire him to compose other books using the software. There were over 200 e-books in Amazon’s Kindle store as of mid-February listing ChatGPT as an author or co-author, including "How to Write and Create Content Using ChatGPT," "The Power of Homework" and poetry collection "Echoes of the Universe." There is even a new sub-genre on Amazon: Books about using ChatGPT, written entirely by ChatGPT. In the video, White says anyone with the wherewithal and time could create 300 such books a year, all using AI.
☆ Elon Musk is currently working for Tesla for free. That could be about to change
  + stars: | 2023-02-20 | by ( Chris Isidore | ) edition.cnn.com   time to read: +5 min
New York CNN —For the moment at least, Elon Musk is working at Tesla for free. And last month the company disclosed Musk received the last remaining block of options granted under an even more lucrative 2018 pay package. Tesla stock closed Friday at $208.31. Still, some believe that the Tesla board could soon announce a new pay package for Musk. Some Tesla shareholders challenged the 2018 deal in a Delaware court, even though it was overwhelmingly approved by shareholders at that time.
☆ Companies Are Slow to Adopt Robot-Operated ‘Dark’ Warehouses
  + stars: | 2023-02-17 | by ( Liz Young | ) www.wsj.com   time to read: +5 min
More companies are exploring ways to staff warehouses with robots but may have to wait a few years for the technology to catch up. It makes the automation much easier to justify,” said Sean Wallingford, president and chief executive of the Americas region for warehouse technology company Swisslog Holding AG. A robotic arm picks and packs orders at online pharmacy company Apo.com’s automated warehouse in the Netherlands. Photo: RIGHTHAND ROBOTICSAbout 20% of warehouses in 2022 used some form of robotics, up from 15% in 2018, according to research firm Interact Analysis. Mr. Jensen said the company made changes after the first fire in 2019, limiting damage from later fires.
☆ Amazon to require office workers to show up in person at least three days a week
  + stars: | 2023-02-17 | by ( Brian Fung | ) edition.cnn.com   time to read: +1 min
Washington CNN —Amazon is ordering thousands of its workers back to the office for at least three days per week, according to a company memo by CEO Andy Jassy on Friday. The move, which takes effect May 1, marks an end to the remote- or hybrid-friendly policy that had been in place at Amazon (AMZN) previously. It also comes a month after Amazon (AMZN) confirmed plans to lay off more than 18,000 workers amid broader uncertainty in the economy. In defending the policy change, Jassy argued that in-person work would lead to better collaboration and company culture. “It’s not simple to bring many thousands of employees back to our offices around the world, so we’re going to give the teams that need to do that work some time to develop a plan,” Jassy wrote in the memo.
☆ Amazon’s Zoox robotaxi drives on public roads in California for the first time
  + stars: | 2023-02-14 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +2 min
London CNN —Amazon’s Zoox driverless transportation company has started testing its robotaxi on open public roads — with employees on board, for now. The company said Monday that it conducted an initial run of its shuttle service for workers at its headquarters in Foster City, California on February 11, a key step in its efforts to make autonomous vehicles widely available. Full-time employees will now be able to travel in the self-driving taxi on the route between Zoox’s two main office buildings. Zoox, which was founded in 2014 and purchased by Amazon in 2020, is unique in its approach to designing electric self-driving vehicles. But Zoox has ditched the steering wheel and brake pedal, claiming those features are unnecessary when there’s no human driver.
☆ Microsoft and Google promised to invest in these communities. Now they’re backtracking
  + stars: | 2023-02-14 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +11 min
Hyosub Shin/The Atlanta Journal-Constitution/ZUMA Press WireFacebook-parent Meta, Microsoft, Salesforce and Snap have each shuttered offices or announced plans to cut back on real estate, according to recent corporate announcements, filings and local news reports. But residents also had cautious optimism about the benefits Microsoft promised to the community, according to Hope. Hope’s community isn’t alone in confronting the whiplash of Silicon Valley’s real estate pullback. An office sits vacant on October 27, 2022 in San Francisco, California. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home.
☆ Dogs Win the Super Bowl Ad Lineup, Surveys Show
  + stars: | 2023-02-13 | by ( Patrick Coffee | ) www.wsj.com   time to read: +5 min
The winner of USA Today’s annual Super Bowl Ad Meter was a commercial for dog-food delivery company Farmer’s Dog Inc. that tracked one chocolate Lab’s relationship with its owner from puppyhood to old age. The USA Today rankings had some overlap with other results. Research by Ace Metrix, a unit of TV ad measurement firm iSpot.tv Inc., crowned Jeep’s Super Bowl commercial as the most likable of the night. Jeep had the game’s most likable ad, according to Ace Metrix. “In past years, we’ve seen the majority of Super Bowl conversation generated in the weeks leading up to the Big Game,” a Mars spokeswoman said.
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