Amazon Is Shuttering Some India Businesses Amid Global Cuts

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Amazon Is Shuttering Some India Businesses Amid Global Cuts

Bloomberg2022-11-28

(Bloomberg) -- Amazon.com Inc. will wind down parts of its Indian operations, showing that even the crucial growth market with 1.4 billion consumers isn’t immune to Chief Executive Officer Andy Jassy’...

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Edwht
·2022-11-28
Global economy not looking good year 2023.
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- Ragz:
  Looks like the future is bleak
  2022-11-30
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TW1
·2022-11-28
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- Ryanlmh:
  K
  2022-11-28
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The exits will involve layoffs of just several hundred out of a workforce of thousands, leaving Amazon relying on its core offerings such as online retail in the country, according to a person familiar with the matter.Jassy is reducing expenses and jobs around the world amid slowing growth in several areas of Amazon’s business. In India, the pullback underscores Amazon’s struggles in one of the world’s fastest growing e-commerce markets, where it’s facing regulatory heat and competition from homegrown conglomerates Reliance Industries Ltd. and Tata Group as well as Walmart Inc.’s Flipkart. After plowing billions of dollars in everything from grocery delivery to payments in India during the past decade, the company has failed to achieve the sort of dominance it enjoys in markets such as the US.Several projects in beta testing are also likely to be shelved, said the person, who asked not to be named discussing internal deliberations. 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It has projected the smallest revenue increase ever for its holiday quarter, and Jassy had put in place a hiring freeze on some corporate roles and shut down several experimental and smaller programs.Amazon launched Amazon Food, the meal delivery service it’s now shuttering, in India in 2020. It offers food from restaurants and other providers serving everything from paratha stuffed bread to McDonald’s burgers and fries. Amazon’s business-customer unit will continue to provide small retailers and bulk buyers with goods such as groceries and medical supplies but will no longer offer door delivery of packaged consumer goods.“We are discontinuing these programs in a phased manner to take care of current customers and partners,” the company said in an emailed statement. “We remain committed to India and will continue to invest across those areas where we can bring value to our customers.”During the past decade, Amazon has added millions of sellers on its platform in India and expanded in segments like groceries and digital payments, while selling fashion, beauty products and flight tickets. 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