Amazon to Cut 1,300 Workers
A company statement didn't explain the restructuring, but it did acknowledge that the move would cost Amazon approximately $150 million.
Amazon also announced earnings results from the 4th quarter. The company's net loss was $90.4 million, or 25 cents a share, compared with $184.9 million, or 55 cents, a year earlier.
The company also had quarterly revenues of $972 million, which beat Amazon's recent estimate of $960 million, and was up from $676 million a year earlier.