CNBC: Anglo American rejects BHP’s $39bn takeover bid to form mining juggernaut
CNBC reports: Mining giant Anglo American on Friday rejected a takeover bid from rival BHP Group, saying the offer ...
CNBC reports:
KEY POINTS
– Amazon CEO Andy Jassy published his annual shareholder letter on Thursday.
– Jassy reflected on one of the most challenging periods in Amazon’s history, and signaled he remains confident that recent cost-cutting efforts will pay off.
Amazon CEO Andy Jassy on Thursday published his annual shareholder letter where he reflected on one of the most challenging periods in the e-retailer’s history, and signaled he remains confident that recent cost-cutting efforts will pay off.
Jassy said he’s spent the last several months taking a “deep look across the company, business by business” to examine whether each unit has the ability to generate enough revenue, operating income, free cash flow and return on invested capital.
“In some cases, it led to us shuttering certain businesses,” Jassy wrote.
As part of the belt-tightening efforts, Amazon in recent months axed a telehealth service and other experimental projects. It also pressed pause on expansion of its Fresh supermarkets, and pared back warehouse expansion.
Amazon also instituted the largest job cuts in its 29-year history, letting go 27,000 employees through multiple rounds of layoffs. It also put in place a hiring freeze for its corporate workforce…
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