Internet retailer Amazon.com is the latest dotcom to announce major job losses in the face of pressure from the money markets to stem losses.
The company announced plans to cut 1,300 jobs and close warehouses and customer service centres in the US after revealing that revenues in 2001 would be as much as $700 million (£500 million) less than expected.
The e-tailing giant also reported increased losses in the fourth quarter of $545 million (£390 million), up from $323 million (£230 million) in the corresponding period last year.
Yesterday, Walt Disney announced that it was to close its Go.com internet business with the loss of 400 jobs, writing off a $1 billion (£700 million) investment over three years.
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