The company's reset under CEO Andy Jassy will continue this year.
Amazon CEO Andy Jassy during the New York Times DealBook Summit in November. Photo by Michael M. Santiago/Getty ImagesThe tech and logistics giant will stay on the cost-cutting course it started last year as the anomalous and massively beneficial economic conditions for its business created by the pandemic dissipate."We're working really hard to streamline our costs and trying to do so at the same time that we don't give up on ...
"We took a fulfillment center footprint that we built over 25 years and doubled it in just a couple of years ... At the same time we built out a transportation network for last mile, roughly the size of UPS, in a couple of years ... so there's a lot to figure out how to optimize," he said.
For context, in Q2 of 2021, the last quarter of Amazon under Jeff Bezos, yearly revenue growth for online stores wasJassy called out Amazon's bets on streaming media and its low-earth orbit satellite program, Kuiper, among its bullish investments.As for the immediate future, the company is "cautiously optimistic" about consumer spending, CFO Brian Olsavsky told reporters on a separate call.
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