Despite a past year full of challenges, Amazon’s CEO said he is optimistic for the future and that cost-cutting will have a positive result.
Andy Jassy said in the letter to shareholders for 2022, published Thursday, that “AWS is now an $85 billion annual revenue run-rate business,” referring to Amazon Web Services, the world’s biggest cloud-computing provider.
Jassy said that an evaluation of every business and part of Amazon took place in order to find where costs could be reduced. Some new and experimental businesses, such as physical bookstores and Amazon Fabric, were cut because they were not profitable.
“A critical challenge we’ve continued to tackle is the rising cost to serve in our Stores fulfillment network (i.e., the cost to get a product from Amazon to a customer),” the letter says….