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    Vikshita Vitthal Gujaran in News

    14-Apr-2023 01:10 PM


    Amazon CEO Says "Hard To Eliminate 27,000" Roles, But Will Pay Off Well

    #Amazon is making investments in new areas like artificial intelligence.
    Andy Jassy, the CEO of Amazon, wrote an annual letter to shareholders outlining the challenging periods the company has faced in the past and expressing his confidence that recent cost-cutting efforts will help the tech giant's growth.
    "Over the last several months, we took a deep look across the company, business by business, invention by invention, and asked ourselves whether we had conviction about each initiative's long-term potential to drive enough revenue, operating income, free cash flow, and return on invested capital," he said the letter.
    Additionally, he highlighted that Amazon will keep on hiring staff and assured that it will continue to "compensation to stock options rather than cash."
    Mr Jassy claimed that throughout the last few decades, the company has applied machine learning to a variety of applications.

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