- Amazon.com Inc. AMZN received $8 billion in loans from DBS Bank, Mizuho Bank and others. This loan will mature in his 364 days (January 3, 2024).
- The loan includes an option to extend for an additional 364 days and is useful for general corporate purposes.
- Amazon told TechCrunch that the loan adds to a range of financing options the company has taken recently to hedge against an “uncertain macroeconomic environment.”
- “Like all companies, we regularly evaluate our business plans and make funding decisions accordingly, such as entering into fixed-term loan agreements and issuing bonds,” the spokesperson said. I’m here.
- Sluggish e-commerce sales have forced Amazon to close or postpone plans for more than a dozen facilities. Soaring energy prices also had a big impact on Amazon’s business, as delivery spending in the third quarter of 2022 increased by 10% to his $19.9 billion.
- Amazon has frozen corporate hiring in its retail operations, closed the Amazon Care telemedicine service, closed most of its US call centers, and scaled back Amazon Scout.
- To cut costs, Amazon cut headcount in early 2023, reportedly cutting as many as 10,000 employees.
- Amazon had $59 billion in cash and equivalents as of September 30.
- Price action: AMZN shares traded 0.82% higher in the premarket at $86.52 on Wednesday’s final check.
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