Amazon., which has grown from a niche online retailer to a $40 billion company, is about as far away from a traditional retail outlet as one can get.
It has no physical stores and no physical distribution network.
In addition, the company has no plans to open a physical store in the United States.
But Amazon is closing that gap.
In the past few weeks, Amazon has been announcing a series of significant layoffs.
Some of the employees will lose their jobs while others will be moved to other countries or even to other parts of the world.
Amazon also announced that it would be pulling back from its e-commerce business and is preparing to sell its business and assets to a Chinese company.
Amazon.com Inc. is shutting its retail footprint in the states, and its online storefronts are no longer in business.
But it has continued to offer e-book services and a vast array of books online.
In its earnings report, the e-tailer also announced plans to sell some of its online books and other goods to a group of Chinese companies, though it gave no further details.
Amazon’s plans to close stores in the US, where it is already a $100 billion company with a $25 billion market cap, are not a surprise.
The company is facing a global recession that has taken a toll on its margins.
As of December 31, the retail division of Amazon.
Com had a loss of $3.6 billion, or 4 percent, compared to a loss in the same period last year.
The loss was a major blow to its bottom line and to investors who expect a rebound in Amazon’s fortunes.
Amazon has been struggling for years with low sales, and it lost money on average of 4 percent in the fourth quarter of 2015, according to Bloomberg.
The last time Amazon was this poor was in 2007.
Last week, the Washington Post reported that Amazon was planning to close about 20 stores around the country by the end of this year.
In March, Amazon’s stock price dropped by more than 30 percent.
Last year, Amazon saw about $50 billion in sales in the first quarter, and the company said it expects to earn $40.9 billion in the second quarter.