Amazon planning to close and scrap plans for warehouses as sales slow

Photo by: Amazon
Photo by: Amazon

(Seattle, WA) -- Amid slow sales growth, Amazon is reportedly scrapping plans for dozens of new warehouses.

The retail giant will be either closing or abandoning plans to open 42 warehouses across the country.

Sources say Amazon is also delaying the opening of 21 other locations and canceled several large projects in Europe. These new details are emerging after Amazon announced the company is closing two delivery stations in Maryland that employ over three-hundred people.

In July, Amazon posted its slowest growth rate in more than 20 years which could be connected to these sudden closures.

The Wall Street Journal reports Amazon plans to sub-lease over ten-million square feet of warehouse capacity as it looks to end more of its leases.

Tags: 

Suggested

Photo by: Amazon
Amazon to close eight "Go" stores
Tue, Mar 7th, 2023 - 2:00pm
Photo by: Amazon
Amazon ranked best place to work
Mon, Apr 24th, 2023 - 6:00am