Amazon plans to cut $1.3bn in costs by reducing office space, targeting a 10% vacancy rate in 3-5 years.
Amazon plans to cut $1.3bn in costs by reducing office space and opting out of leases early, with a target vacancy rate of 10% in the next 3-5 years, down from 33.8%. The tech giant aims to utilize its corporate space more efficiently and address unused portions. This strategy involves letting certain leases expire, stopping the use of some floors, and negotiating early lease terminations for some buildings.
March 28, 2024
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