Market Chatter: Amazon Ends Development of Fertility Tracking Product

MT Newswires Live11-14 02:41

Amazon.com (AMZN) discontinued plans to develop an at-home fertility tracker, CNBC reported Wednesday, citing Margaret Callahan, a company spokesperson,

About 100 employees will be laid off, Callahan said, according to the report.

"Following a recent review, we've decided to discontinue this project" and work "directly with employees whose roles are impacted to support them through the transition and help them find other opportunities within Amazon," the spokesperson said, according to the report.

The secretive project, codenamed Encore, had been underway for four years and involved the development of a fertility monitoring device and companion smartphone application, the CNBC report said, citing people familiar with the matter and internal documents.

The product faced technical and cost issues, the report said.

Amazon didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 214.26, Change: +5.35, Percent Change: +2.56

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