WSJ: Amazon has launched a cost-cutting review focused on unprofitable business units

© Alexey Novikov

THE WALL STREET JOURNAL reports:

“Review takes a close look at devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show”

Amazon Chief Executive Andy Jassy is leading a cost-cutting review of the tech giant and paring back on businesses at the company that haven’t been profitable, according to people familiar with the matter.

The Seattle-based company, whose stock is down about 45% year to date, has been experiencing a slowdown in its core retail business as it tries to manage costs from its logistics network. Other technology companies have been making cuts to better navigate a potential recessionary environment. This week, Facebook parent Meta Platforms Inc. said it would cut more than 11,000 workers, or 13% of staff…