What's Going On With Amazon.Com Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
David Limp, the head of Amazon's device division, plans to leave the company after 13 years. His departure is the latest in a series of high-profile exits since Andy Jassy took over as CEO. Limp's division, which includes Amazon's Alexa and other services and gadgets, has struggled to generate profits. The division was also affected by Jassy's cost-cutting measures, which resulted in the loss of 27,000 jobs. Despite selling over 500 million Alexa-enabled devices, the unit has reported operating losses exceeding $5 billion in some years.
August 15, 2023 | 11:56 am
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David Limp's departure from Amazon could potentially impact the company's device division and its future profitability. The division has struggled to generate profits despite selling over 500 million Alexa-enabled devices.
David Limp's departure could potentially impact Amazon's device division, which has struggled to generate profits. His exit could lead to changes in the division's strategy and potentially affect its future profitability.
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