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Amazon cancels the iRobot deal; Roomba Maker cuts 31% of staff.
Amazon has abandoned its $1.4 billion acquisition of Roomba maker iRobot after a clash with European Union regulators.
IRobot's CEO, Colin Angle, stepped down as the company embarked on a restructuring plan, resulting in 350 job cuts.
Amazon's shares tumbled 19% in New York to $13.80, their lowest level since 2009.
The decision reflects the pressure Amazon faces to prove its actions don't harm competition as its influence grows in retail, cloud computing, and entertainment.
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Amazon cancela el acuerdo con iRobot; Roomba Maker recorta un 31% de plantilla.