Amazon.com To Cut 1,300 Jobs
The Associated Press
Tuesday, Jan. 30, 2001; 4:39 p.m. EST SEATTLE Amazon.com reported a fourth-quarter loss of $90.4 million Tuesday and said it will cut 1,300 employees, or 15 percent of its work force.
The news came as the Seattle-based online seller of books and CDs posted fourth-quarter losses that were slightly lower than what analysts were expecting.
In a statement, Amazon said it was closing a distribution center in McDonough, Ga., and a customer service center in Seattle to contain costs. It also said its distribution center in Seattle will be operated seasonally.
The resulting job cuts will cause Amazon to take a charge in excess of $150 million this year.
For the three months ended Dec. 31, Amazon lost $545 million, compared with $323.3 million in the year-ago period.
Excluding one-time items, Amazon lost $90.4 million, compared with $184.9 million last year.
© Copyright 2001 The Associated Press