Amazon is cutting hundreds of employees to shift resources to fast-growing businesses

CNBC ---------- Amazon is laying off employees in the "low hundreds" an in effort to shift headcount allocation to businesses that are growing, CNBC has learned. The Seattle Times first reported that Amazon was laying off "hundreds" of employees and "managing out" others as the company consolidates its retail operations. A person familiar with the matter says the cuts are focused on Amazon's Seattle headquarters and will affect some workers globally. The layoffs will occur in the consumer retail business, which includes Amazon's toys, books and groceries units, to make room for headcount in businesses that are growing, like Alexa, AWS and digital entertainment. Jeff Bezos, in a statement in the last earnings report, said Amazon would 'double down' on Alexa after blowing past projections. To learn more click on the picture below to read the article.