Amazon Layoff Spree To Continue Despite Record Profits: 'Very Careful On Our Investments,' Says CFO

Amazon AMZN has hinted at the possibility of further layoffs despite its recent financial success.

What Happened: Business Insider reported that during a call with journalists on Thursday, Amazon’s Chief Financial Officer Brian Olsavsky suggested that the company may continue with its cost-cutting measures.

He stated, “I think we are very careful on our investments. We are investing, and we are adding in some areas, but there’s a general feeling in most teams that we’re looking to hold the line on headcount, perhaps go down, as we can drive efficiencies in the size of our business.”

These comments followed Amazon’s announcement of strong fourth-quarter financial results, surpassing Wall Street estimates. Despite this, Olsavsky emphasized Amazon’s commitment to maintaining a cost-saving approach.

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Amazon CEO Andy Jassy also reiterated the company’s focus on cost optimization during a separate call with analysts. He highlighted that Amazon will continue to invest in areas such as artificial intelligence, grocery shopping, and healthcare, among other businesses.

Why It Matters: Amazon has implemented significant layoffs over the past year. In January, it was reported that the company had laid off hundreds of employees in its Amazon Pay and marketing divisions. This was part of a larger trend of layoffs at the company, with Amazon reportedly using a tactic called “quiet firing” to encourage employees to leave voluntarily.

Amazon’s Audible also braced for future layoffs amid rising competition from Spotify, a meeting that reportedly came two weeks after Audible reduced its workforce by 5%.

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