Amazon planning to sublease warehouses amid online shopping slowdown

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Amazon will sublease some of its warehouse capacity as sales have suffered significant declines from where they were in the midst of the COVID-19 pandemic.

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar/File Photo

The move to cut excess space comes after the company suffered its first quarterly loss in seven years. in April, which hurt its warehouse operations, after about two years of soaring growth fueled by the pandemic.

 

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