Amazon has grown dramatically over the past decade, employing more than 1.5 million people and reaching nearly every corner of commerce and society. Now, the tumultuous economy is forcing the tech giant to make a series of difficult decisions, cutting back in some areas and making strategic bets in others.
You are never alone when faced with these decisions. But across e-commerce, brick-and-mortar stores, cloud computing, robotics, AI, transportation, logistics, and many other areas, Amazon is a microcosm of the larger economy. As such, it’s worth considering in a broader sense than just its own future.
In this episode of the GeekWire Podcast, we take a closer look at the factors impacting Amazon’s business and how Amazon is responding.
Listen below and read on for more.
Amazon has significantly slowed job growth. The company’s decision to suspend corporate hiring for the next few months is the latest example of its efforts to keep its headcount down.
The economy is taking a toll on Amazon’s financial situation.
Amazon’s industry-leading cloud business is not immune. Amazon Web Services posted its slowest year-over-year quarterly revenue growth (27%) and the slowest quarterly operating profit growth in three years (11%) since the company began reporting cloud results. did.
The company is betting on long-term growth in cloud, prime and e-commerce.
Amazon has already scaled back or stopped operations in some areas.
Economic headwinds are the biggest challenge yet for Amazon CEO Andy Jassy. I asked him to work on a decision that founder Jeff Bezos never faced. Ultimately, Jassy’s legacy will be determined by what he builds, not what he cuts, and whether Amazon can find a fourth pillar in this mess.
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