Amazon pauses construction of second headquarters in Virginia
Publishing timestamp: 2023-03-03 15:36:30
Summary
Amazon is pausing construction of its second headquarters, dubbed HQ2 in Virginia, while the first phase of the campus is slated to open in June. Amazon CEO Andy Jassy has taken steps to curtail expenses across the company in face of slowing revenue and gloomy economic outlook. Amazon is reevaluating its real estate portfolio and sunsetting some projects. Amazon expects to begin pre-construction work on other aspects of HQ2 later this year.
Sentiment: NEUTRAL
Tickers: AMZN,
Keywords: business news, real estate, virginia, breaking news: technology, amazon.com inc,
Source: https://www.cnbc.com/2023/03/03/amazon-pauses-construction-of-second-headquarters-in-virginia.html