Amazon slashes 15% workforce, posts smaller Q4 loss

SEATTLE, JAN 31: Online retail giant Amazon.com Inc posted a smaller quarterly loss on Tuesday, just beating Wall Street estimates, but said it would cut 15 per cent of its workforce to help it reach profitability by the end of the year.

Analysts viewed the holiday quarter as a crucial time for Amazon to prove its growth first, profits later strategy could work. The company has expanded beyond its core books business into music, software, hardware and even lawn furniture.