Online bookseller Amazon.com, Seattle, has laid off about 150 employees, or 2% of its work force. The move was made in anticipation of higher than expected financial losses, according to wire service reports. Most of the job cuts are expected in the Seattle area. Despite coming off its best-selling holiday season ever, the company has racked up losses of more than $550 million.
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Amazon.com Lays Off 150 Employees
Amazon.com, the much-ballyhooed online bookseller based in Seattle, said Friday it was laying off about 150 employees, or 2% of its workforce, in anticipation of higher-than-expected financial losses, according to wire service reports.
Most of the job cuts are expected in the Seattle area.
Despite coming off its highest-selling holiday season ever, the company has racked up losses totaling more than $550 million. The firm is expected to report its fourth-quarter 1999 earnings Feb. 2.
