Amazon axes some private label brands as part of wider cost cuts
Publishing timestamp: 2023-08-10 11:03:25
Summary
Amazon is cutting some of its private label brands as part of cost-cutting efforts and in anticipation of a possible antitrust lawsuit. The move comes after concerns were raised about Amazon copying products and pricing them competitively. The company's CEO, Andy Jassy, has been aggressively slashing costs and targeting unproven bets. The Federal Trade Commission is reportedly preparing to file a lawsuit against Amazon.
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Keywords: internet, technology, business news, amazon.com inc, products and services,