Amazon's post-Bezos experiment hasn't gone exactly as planned
Publishing timestamp: 2023-03-20 21:05:38
Summary
Amazon CEO Andy Jassy has announced an additional 9,000 job cuts, following 18,000 layoffs in January. Jassy's tenure has been marked by slowing growth, a tumbling stock price, and multiple rounds of job cuts. Since Jassy officially succeeded Jeff Bezos in July 2021, Amazon has experienced its most turbulent period since the dot-com crash. Jassy has been forced to guide Amazon through a series of cost-cutting measures, and the company's shares have plunged by 44% since his first day as CEO. Jassy is under immense pressure to prove he can get expenses under control and find new engines for growth.
Sentiment: NEGATIVE
Tickers: AMZN,
Keywords: amazon.com inc, internet, technology, jeff bezos, business news,
Source: https://www.cnbc.com/2023/03/20/amazons-post-bezos-experiment-hasnt-gone-exactly-as-planned.html