Amazon sees cloud slowdown in April, shares erase gains

Image Source: reuters.com

Amazon gave a warning that its soaring growth in cloud services would slow down as its business clients cut back on spending.

Amazon’s stock originally gained over $125 billion in extended trading.

The unexpected rise and collapse of Amazon are indications of a hazardous time for the business.

Amazon is also dealing with a growing threat from its cloud competitors Microsoft and Google.

Amazon has intended to eliminate 27,000 corporate positions.

As of the most recent quarter, 1.47 million full- and part-time employees, including those working in warehouses, made up its workforce.

The company is also discontinuing all of its services, including its Halo fitness trackers.

AWS is one of the leading cloud computing providers in the world

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