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Amazon starts a multi-month cost-cutting review:

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  • The Wall Street Journal reported on Thursday that US e-commerce behemoth Amazon has started a months-long cost-cutting study focused on unproductive business segments.
  • The teams they were working on were being stopped or closed, and employees in certain unprofitable divisions were advised to search for jobs elsewhere within the organisation.
  • Notably, Amazon’s stock has decreased by nearly 45% so far this year.

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