Amazon Stock Sees Retail Chatter Surge 39% Amid HR Downsizing News
Synopsis
Meanwhile, Outfront Media, a provider of out-of-home advertising, has announced a strategic partnership with Amazon Web Services to modernize out-of-home planning and buying through AI-enabled workflows.
Amazon.com (AMZN) stock was one of the top trending tickers on Stocktwits, witnessing a 39% increase in retail user count over 24 hours on the platform, as of Wednesday morning, after a slew of updates from the company, including the e-commerce giant’s reported plan to reduce the size of its human resources division.
According to a report by Fortune, Amazon's human resources division, known as PXT or the People eXperience Technology team, is set to reduce its workforce by 15%.
Retail sentiment on Amazon remained unchanged in the ‘neutral’ territory compared to a day ago, with message volumes at ‘high’ levels, according to data from Stocktwits. Shares of the company were down nearly 1% in afternoon trading.
A bearish user on Stocktwits opined that the reduction in workforce could mean Amazon was slowing and not hitting their profit targets.
Separately, Outfront Media (OUT), which provides out-of-home advertising, announced a strategic partnership with Amazon Web Services (AWS) to modernize out-of-home planning and buying through AI-enabled workflows.
The company said that the initiative will enable the planning, purchasing, and measurement of static and digital out-of-home inventory end-to-end using natural language via intelligent agents.
Amazon also announced that Buy with Prime, a direct-to-customer (DTC) offering, and Amazon Multi-Channel Fulfillment (MCF), a third-party logistics solution, have helped JLab Electronics to double-digit growth in average order value and shopper conversion across their DTC store compared to standard orders.
The company said that JLab, with the benefits from Buy with Prime, saw a 37% increase in average order value year-over-year when comparing Buy with Prime orders to standard DTC orders.
Shares of Amazon have declined 2% this year but have gained over 15% in the last 12 months.
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