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Ax Falls at Amazon.com.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Tessler, Joelle
Jan. 30--Amazon.com might be the leader of the online retail revolution, but by announcing its first mass layoffs Friday, it acknowledged that it's ultimately just as mortal as traditional merchants like Sears and Wal-Mart.
The Seattle-based retailer of books, music, electronics and power tools said it will eliminate 150 employees from all sectors of the company. Although that amounts to just 2 percent of its 7,500-person workforce, the layoffs were a big surprise to Wall Street and proof that the recent turmoil among online retailers is touching even the mightiest e-merchant of all.
Online merchants like Beyond.com and Value America also announced layoffs recently, and dot-com retailers as a group have struggled to meet Wall Street's expectations for...
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