U.S. markets close in 2 hours 17 minutes
  • S&P 500

    4,005.86
    -65.84 (-1.62%)
     
  • Dow 30

    33,999.08
    -430.80 (-1.25%)
     
  • Nasdaq

    11,266.68
    -194.82 (-1.70%)
     
  • Russell 2000

    1,842.57
    -50.27 (-2.66%)
     
  • Crude Oil

    77.92
    -2.06 (-2.58%)
     
  • Gold

    1,781.40
    -28.20 (-1.56%)
     
  • Silver

    22.42
    -0.83 (-3.55%)
     
  • EUR/USD

    1.0505
    -0.0025 (-0.24%)
     
  • 10-Yr Bond

    3.5920
    +0.0860 (+2.45%)
     
  • GBP/USD

    1.2192
    -0.0105 (-0.85%)
     
  • USD/JPY

    136.5480
    +2.2770 (+1.70%)
     
  • BTC-USD

    17,088.75
    -21.54 (-0.13%)
     
  • CMC Crypto 200

    403.83
    -7.39 (-1.80%)
     
  • FTSE 100

    7,567.54
    +11.31 (+0.15%)
     
  • Nikkei 225

    27,820.40
    +42.50 (+0.15%)
     

More Cost Cut Initiatives From Amazon; Looks To Shutdown Every US Call Center Barring One

  • Amazon.com, Inc (NASDAQ: AMZN) looks to close all but one of its U.S. call centers and shift hundreds of office employees to remote work to save on real estate.

  • The call centers currently planned for shuttering are in Kennewick, Washington; Lexington, Kentucky, and Phoenix, Bloomberg reports.

  • The call center that remains open will most likely be in Huntington, West Virginia, or Houston.

  • Amazon sought to reduce expenses as revenue sales growth slows amid rising inflation and economic uncertainty.

  • The cost-cutting comes after Amazon quickly expanded its warehouses and logistics operations when consumer demand jumped during the early stages of the pandemic.

  • The pandemic also forced companies to embrace remote work for customer service roles, and many employees resisted efforts to return to offices.

  • The report added that the customer support employees comprise a small fraction of Amazon's over 1.5 million workers.

  • Earlier, Amazon looked to sublet at least 10 million square feet of space and vacate even more by ending leases with landlords to cut down on costs amid the slowdown.

  • On Wednesday, Amazon boosted pay for its U.S. front-line employees.

  • After facing flak and growing unionization, Amazon strategized to improve warehouse safety and pay concerns.

  • Price Action: AMZN shares traded higher by 0.10% at $114.92 on the last check Friday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.