Amazon Skips India’s Business Update First Time since 2014, Warns about Slowdown in Cloud Business

New Delhi (India), 28th April 2023: Amazon, the world’s largest e-commerce company, has said that growth in its cloud computing sector has slowed as corporations cut down on spending in a difficult macroeconomic environment.

Along with this Amazon made no mentions of its performance in India which is the first time the company has done that since 2014.

Amazon Web Services (AWS), which accounts for the majority of the Seattle-based company’s revenue, saw its operating income dip 21% year on year (YoY) in the January-March quarter, from $6.5 billion in Q1 2022 to $5.1 billion.

However, the unit’s net sales increased 16 percent year on year, from $18.4 billion in Q1 2022 to $21.4 billion in Q1 2023, exceeding analysts’ expectations.

Amazon CEO Andrew Jassy has announced a succession of job cuts in recent months, with AWS staff being the most recently affected.

Jassy announced in March that Amazon would reduce 9,000 workers across AWS, Twitch, and other services. This was in addition to the 18,000 jobs Amazon announced it would eliminate following a hiring spree during the epidemic years. These decisions were anticipated to have an impact on employees in India too.