Tuesday, July 23, 2024

Amazon to Shut Down Its Global Online Bookstore to Cut Costs: Report

Amazon, the world’s largest online retailer, has announced that it will be shutting down Book Depository, a UK-based online bookstore that it acquired back in 2011. The move, which has been anticipated for some time, is part of Amazon’s ongoing efforts to streamline its operations and cut costs. Despite the closure, customers can still place orders until midday UK time on April 26, and Book Depository will continue to provide support to customers with their orders until June 23.

Founded in the UK in 2004, Book Depository quickly gained a loyal following thanks to its wide selection of books and free delivery to over 120 countries with no minimum spend. The company has sold over 20 million books and has been a go-to destination for book lovers all around the world. However, with Amazon’s decision to shut down the online bookstore, customers will have to look elsewhere for their literary fix.

This move comes as Amazon is making significant cuts to its workforce, with over 27,000 jobs set to be cut globally. In January, Amazon CEO Andy Jessy announced that the company would be slashing more than 18,000 roles, citing “uncertain” economic conditions and the company’s rapid hiring over the past few years. In March, the company announced that it would be cutting a further 9,000 jobs. It is thought that the closure of Book Depository is part of Amazon’s strategy to focus on its core operations and reduce costs.

The closure of Book Depository is likely to be a disappointment for its loyal customers, who have relied on the company’s excellent service and wide selection of books for almost two decades. While Amazon will continue to dominate the online retail space, the closure of Book Depository highlights the challenges facing smaller, independent online retailers. As the online retail landscape continues to evolve, it remains to be seen what the future holds for online book retail.

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