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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (92548)	1/29/2000 7:06:00 PM
From: Glenn D. Rudolph	Respond to of 164684

I'm trying to determine if this was primarily warehouse staff... seems I read that somewhere but of course I can't find it now. Curry said the layoffs were not in one department but rather across the board.

To: Lizzie Tudor who wrote (92548)	1/29/2000 7:25:00 PM
From: Glenn D. Rudolph	Respond to of 164684

LOS ANGELES, CALIFORNIA, U.S.A., 2000 JAN 28 (NB) -- By Kevin Featherly, Newsbytes. Internet retail giant Amazon.com [NASDAQ:AMZN] has fired 150 workers, resulting from what it calls "organizational review," the company said Friday. Bill Curry, an Amazon.com spokesman, confirmed the reports today, telling Newsbytes that the layoffs represent a loss of about 2 percent of the company's workforce. "It's the result of an ongoing process of organizational review that we do, and will continue to do on a regular basis," Curry said. He said the positions affected were eliminated, and that the cuts were spread across the company, rather than being focused on any one under-performing corporate sector. "Something like that would be a strategy change," Curry said. "Our overall strategy has not changed one iota. We are still growing." Curry said that the company even plans to do some further hiring, in order to grow its product lines, services and the geographic areas it serves. He said that nothing in today's move reflects any weakness in the company's business strategy or performance. "I would caution against reading anything into it other than we periodically review the organization to make sure that we have the right skills for the mission," he said. "And we adjust accordingly, whether that's hiring, or reassigning, or in this unfortunate case, eliminating some positions." The move does, however, come at a time when the dot-com financial bubble appears ready to burst and Amazon.com's performance is beginning to rankle its shareholders. The company's stock closed Wednesday at $64.81, a full 43 percent drop from its 52-week high Dec. 9 of $113 a share. The USA Today reported today that Wednesday's stock price placed the company back to its summer 1999 prices. And the skid continued today. As of 2:07 p.m. EST, Amazon.com stock was trading at $61.50, a drop on the day of $5.44, more than 8 percent of the stock's value at today's opening bell on Wall Street. The company's Web address is amazon.com . Reported by Newsbytes.com, newsbytes.com .