Amazon reports net loss of $2.7 billion for 2022

Published by
The Seattle Times

In a year that ended with drastic cost-cutting measures — from ending experimental projects to cutting 18,000 jobs — Amazon reported a net loss of $2.7 billion. That’s compared with a net income of $33.4 billion in 2021. Amazon has attributed losses to its investment in Rivian, an electric vehicle startup that has struggled with production delays and market upheaval. On Wednesday, Rivian said it was cutting 6% of its workforce, or about 840 jobs from its 14,000 staff count. Amazon said its 2022 losses included a pretax valuation loss of $12.7 billion from its investment in Rivian. That’s compa…

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