London (UK), April 5: After nearly two decades, Amazon will close the global online bookstore Book Depository.
The UK-based bookseller, which was acquired by Amazon in 2011, said on Wednesday that it would suspend operations on April 26 but that customers may still place orders until 12:00 UK time on that day.
Book Depository said in a statement on its website that it will continue to assist customers with their orders until June 23.
According to its website, Book Depository, which was founded in the United Kingdom in 2004, sells over 20 million books and offers free delivery – with no minimum spend – to more than 120 countries.
Also Read | SC refuses to entertain plea of 14 parties alleging misuse of CBI, ED
According to CNN Business, the bookseller's shutdown comes as Amazon makes drastic cuts to its workforce in order to minimise costs.
Amazon CEO Andy Jassy stated in a blog post in January that the business would cut more than 18,000 positions globally, citing "uncertain" economic conditions and the company's fast growth in recent years.
"We are working to support those who are affected and are providing packages that include a separation payment, transitional health insurance benefits, and external job placement support," Jassy wrote.
The company then announced another 9,000 job cuts in March.
It is unclear how many jobs will be lost as a result of Book Depository's shutdown.
Also Read: Coronavirus update: Covid spreads tentacles in India; 4435 fresh cases in 24 hrs