Amazon To Close Three Warehouses In The UK

(RTTNews) - As per media reports, Amazon.com, Inc. (AMZN) is planning to close three fulfilment centers in 2023, located Hemel Hempstead, Doncaster and Gourock in West Scotland. This move is anticipated to affect 1,200 positions. As per a company spokesperson, the affected employees will be offered jobs at other locations. Also, Amazon is planning to open two fulfilment centers creating 2,500 positions over the next three years.

Last week, Amazon said it plans to eliminate over 18,000 jobs, more than initially planned, citing uncertain economy. The decision was part of the company's annual planning process for 2023 with a focus to build a stronger cost structure.

On January 3, 2023, Amazon.com, Inc., Toronto Dominion (Texas) LLC, as administrative agent, and the other lenders entered into a Term Loan Agreement, which provides Amazon with an unsecured $8.0 billion term loan that will mature in 364 days, but may be extended for an additional period of 364 days.

On January 5, the Board of Amazon.com approved and adopted amendments to the company's Bylaws to: reflect recent amendments to, and align certain provisions with, the Delaware General Corporation Law; implement procedural and disclosure requirements for director nominees and shareholders proposing director nominees and other business for consideration at the company's annual or special meetings of shareholders, including to address SEC's recently adopted universal proxy card rules; address the conduct of annual or special meetings of shareholders; and make technical and conforming revisions and clarifications.