Read previewAmazon expects to save roughly $1.3 billion in coming years by radically reducing office vacancies, according to a person familiar with the matter and an internal document obtained by Business Insider.
The company's office-vacancy rate of almost 34% results from slower growth and layoffs, the person familiar told BI.
Related storiesIn an email to BI, Brad Glasser, a spokesperson for Amazon, said it's a normal business practice to review the company's real-estate portfolio.
AdvertisementThe person familiar with the matter also noted that so-called "hibernations" can help reduce office costs for Amazon.
Internally, Amazon is aware of how last year's RTO policy caused confusion and frustration among some employees, people familiar with the plans told BI.
Persons:
—, Fitch, Brad Glasser, Glasser, Andy Jassy
Organizations:
Service, Business, Google, Amazon, Alexa