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Overview of Restructuring Initiatives
Amazon Web Services Inc. (AWS) recently underwent a restructuring initiative that resulted in the layoff of hundreds of workers in its physical stores technology and sales departments, according to a report by The Information.
Changes in Checkout Systems
Simultaneously, Amazon.com Inc. announced the removal of its Just Walk Out checkout systems at Fresh supermarkets in the United States.
Cost-Saving Strategies
As part of its cost-saving strategies, Amazon is poised to save an estimated $1.3 billion by reducing office vacancies through natural lease expirations and early terminations over the next three to five years, as reported by Business Insider.
An internal document revealed Amazon's goal to lower its current office vacancy rate from 33.8% to 10%, alongside other cost-cutting measures such as project cancellations and substantial layoffs.
Company Spokesperson's Response
Responding to inquiries, Amazon spokesperson Brad Glasser highlighted the company's ongoing evaluation of its real estate portfolio to align with evolving business needs and employee office use trends. Glasser stated, "The changes we've already made are improving vacancy rates, and we expect to see further progress as we continue to learn and iterate on our portfolio."
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