Amazon Owned Online Shoe Retailer Takes Downsizing Heat Next

Amazon.Com, Inc AMZN gradually disassembled Tony Hsieh’s version of Zappos more than two years after the renowned entrepreneur’s demise.
Zappos laid off more than 300 employees last month, or about 20% of the Las Vegas-based company’s workforce, the Wall Street Journal reports.
The Zappos cuts came from broader layoffs at Amazon that are likely to eliminate more than 18,000 employees.
Hsieh was the CEO of Zappos from its origins as an online shoe retailer in the early 2000s, presided over its sale to Amazon in 2009 for $1.2 billion, and continued to operate it autonomously until shortly before his November 2020 death at the age of forty-six.
Tyler Williams, a longtime Zappos executive and Hsieh’s right-hand man for many years, left the company during the recent round of layoffs, WSJ writes.
Some of the recent cuts at Zappos included customer-service representatives.
A Zappos spokeswoman, Laura Davis, said Zappos continues to operate independently.
In early January, CEO Andy Jassy said he expects the downsizing to help the company pursue its long-term opportunities with a more robust cost structure.
Amazon’s Devices and Services group, known for the Alexa digital assistant and Echo smart speakers, were the hardest hit as the downsizing began in 2022.
Price Action: AMZN shares traded higher by 0.01% at $97.62 in the premarket on the last check Monday.