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Amazon to shut down its global online bookstore in order to cut costs

After nearly two decades, Amazon will close the global online bookstore Book Depository. The UK-based bookseller, which was acquired by Amazon in 2011, announced on Wednesday that it would cease operations on April 26 but that customers could still place orders until midday UK time on that day.

Book Depository said in a statement on its website that it would 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.

According to CNN Business, the bookseller’s closure comes as Amazon makes drastic cuts to its workforce in order to cut costs.

Amazon CEO Andy Jassy announced in a blog post in January that the company would cut more than 18,000 jobs globally, citing “uncertain” economic conditions and the company’s rapid hiring in recent years.

“We are working to support those who have been affected and are offering packages that include a separation payment, transitional health insurance benefits, and external job placement assistance,” Jassy wrote on her blog.

The company then announced another 9,000 job cuts in March.

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