Amazon to discontinue its wholesale distribution operations in India
News Highlights
- Amazon is shutting down its wholesale distribution business in India.
- The company earlier shut down its online learning platform called Academy and food delivery in India.
- Amazon had launched its distribution service to empower local kirana stores, department stores, and pharmacies in the country.
Amazon is closing down Amazon Distribution, an online wholesale retailer that supplies neighbourhood convenience stores in India. The platform was active in the areas of Hubli, Mysore, and Bengaluru. Through a specialised gateway, Amazon Distribution concentrated on meeting the needs of small neighbourhood shops for purchases. To protect current clients and partners, the initiative will be terminated gradually. An Amazon official told the media that the wholesale e-commerce site, Amazon Distribution, is being closed as part of the yearly operations planning review procedure.
Amazon.com
E-commerce company
- CEO: Andy Jassy (5 Jul 2021)
- Founded: 5 July 1994, Bellevue, Washington, United States
- Founder: Jeff Bezos
- Number of employees: 14,68,000
- Stock price: AMZN (NASDAQ) $92.42 -1.53 (-1.63%)
- 29 Nov, 4:00 pm GMT-5 – Disclaimer
- Net income: 3,336.4 crores USD (2021)
- Revenue: 46,980 crores USD (2021)
The business stated, “We are still dedicated to India and will keep investing in sectors where we can add value for our consumers, such as grocery, smartphones and consumer electronics, fashion and beauty, as well as our B2B services like Amazon Business.” With the announcement, the major international e-commerce company have closed three companies in India during the previous week.
Amazon shut down its meal delivery service, which it was testing in the nation, earlier on Friday, according to a statement. The business had already announced earlier in the week that it would be closing down the Amazon Academy platform, which had been introduced at the beginning of last year amid the surge in online education brought on by the Covid epidemic.
According to media reports, Amazon is planning to cut around 10,000 jobs, and began eliminating roles in some departments, including devices and services, earlier this month. The closure of the above-mentioned Indian businesses also includes the elimination of certain roles.
In a memo, Amazon Chief Executive Officer Andy Jassy warned employees that the company would see more layoffs next year.
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