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In unexpected move, e-retail titan Amazon.com announced plans to cut 150 workers--about 2% of its staff.
The cutback surprised many industry observers, coming after a record year in which Amazon reported fourth-quarter sales of more than $650 million and CEO Jeff Bezos was named Time magazineâs Man of the Year.
Despite the record-setting holiday, however, the company warned investors and analysts about higher-than-expected losses earlier this month.
The layoffs were not the result of post-Christmas letdowns or seasonal fluctuations, says an Amazon spokesman. "We do ongoing organizational reviews to just ensure that we always have the right skills and the right number of people in line with the mission of the company.''