Amazon.com Inc (NASDAQ:AMZN) has announced that UK-based online seller, Book Depository will be closing later this month, as the eCommerce giant continues to find ways to cut its costs.
The web-based bookshop is set to close on 26 April after running for nearly two decades. Customers will be able to continue with orders until midday on its final day of operations.
“We are sorry to let you know that Book Depository will be closing … from all of us at we want to say thank you,” a statement on the group’s website read.
Book Depository was created in 2004 by former Amazon employee Andrew Crawford, before it was purchased by the US firm in 2011.
The closure of the London-based operation is likely part of a bigger overhaul for Amazon’s book business, which has already seen magazine and newspaper subscriptions removed from its Kindle eReader.
Amazon has slashed around 27,000 jobs in 2023 as it streamlines areas such as cloud computing, Twitch live-streaming and advertising.
Company offices in areas like London, Madrid, Cape Town, and Chennai could all close – as well as fulfilment centres in the UK and Australia.
“Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount,” Amazon chief executive officer, Andy Jassy, has said.
Amazon's restructuring comes after half of the company’s value was wiped out in 2022. However, since the start of 2023, Amazon shares have been rallying with the stock up 21% in the year-to-date.
Many other large tech firms like Apple and Meta have also cut thousands of jobs.