Amazon.com, which has racked up losses totaling more than $550 million, has laid off about 150 employees, 2% of its work force. A spokesman confirmed the layoffs, explaining that it was part an ongoing process of reviewing the company's resources. He said the layoffs were in all areas of the company and not limited to its Seattle headquarters. Amazon's stock dropped $5.25 on Jan. 28 to close at $61.69, half its December peak of $113. Amazon, which has expanded from selling books online to a vast assortment of products, hasn't turned a profit since it started in 1995.
Copyright January 2000, Crain Communications Inc.