![]() ![]() ![]() The flagship website attracts 2.2 billion visits a month, so it's an ideal place for merchants to market their products.Īmazon CEO Andy Jassy said the recent layoffs were part of a plan to make the company leaner, while still being able to invest in the areas of its business that will improve customers' lives, as well as Amazon as a whole. In any case, advertising remains one of the more promising segments of Amazon's business. It's possible job cuts in this department are targeted toward experimental projects or those that aren't expanding as quickly overall. ![]() On the advertising front, that segment has continued to show steady growth with a 23% revenue increase in the fourth quarter, even in the face of this tough economy. The job cuts at AWS suggest perhaps the company is preparing for even slower growth in upcoming quarters, so it's managing costs to maintain profitability. It's also Amazon's main source of operating profit.īut its revenue grew by just 20% in the fourth quarter of 2022, which was not only a slower rate than both its key rivals Microsoft Azure and Alphabet's Google Cloud, but it was also half the growth rate it achieved in the year-ago period. It helps its business customers with their digital transformations by offering hundreds of solutions, from simple data storage to advanced machine learning applications. AWS is Amazon's industry-leading cloud services segment. ![]()
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