NEW DELHI: As per reports, global e-commerce giant Amazon is shutting down certain verticals globally in a bid to cut down its costs. The company Monday announced to shut down its wholesale distribution business in India.
Amazon.com Inc. will wind down parts of its Indian operations, showing that even the crucial growth market with 1.4 billion consumers isn’t immune to Chief Executive Officer Andy Jassy’s cost-reduction campaign.
The company earlier shut down its food delivery and online learning platform called Academy in India. “We don’t take these decisions lightly. We are discontinuing this program in a phased manner to take care of current customers and partners,” a company spokesperson said in a statement.
Further, it also pulled out its recently launched bulk distribution services to empower local Kirana stores, pharmacies, and department stores in the country.
The food delivery service in India began in May 2020. Its withdrawl came a day after the global e-commerce firm shut down its offices across the country in the edtech vertical