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Book Depository to Shut Down as Amazon Continues to Cut Costs

Amazon will shut down online bookstore Depository almost two decades.

Book Depository posted a statement on its website saying that the business would still help clients with their orders up until June 23.

Customers may still place orders up to 12:00 UK time on April 26 from the UK-based bookseller, which was acquired by Amazon in 2011. But, the bookseller’s activities would end on that day. According to a statement released on Wednesday.

According to its website, Book Depository, which was established in the UK in 2004, sells more than 20 million books and offers free delivery to more than 120 countries with no minimum purchase need.

According to CNN Business, Amazon is closing the bookshop as it makes significant personnel reductions to slash costs.

As a result of “uncertain” economic conditions and the company’s rapid hiring over the previous few years. Amazon CEO Andy Jassy stated in January that the company would eliminate more than 18,000 positions internationally.

In order to assist people who are impacted, Jassy stated on the blog. “We are striving to support those who are affected and are giving packages that include a separation payment. Transitional health insurance coverage, and external job placement support.”

The corporation then announced in March that it will eliminate an additional 9,000 employees.

It’s unclear how many jobs would be lost as a result of Book Depository’s shutdown. A CNN request for comment was not met with a response from the bookshop.

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