From Breakingviews - Amazon expansion collides with contraction
A sign hangs from a fence at Metropolitan Park, the first phase of new construction of Amazon's HQ2 development, in Arlington, Virginia, U.S., October 13, 2021. REUTERS/Kevin Lamarquerapid expansion is hitting a wall. The e-commerce giant is pausing building out its second headquarters in Arlington, Virginia more than five years after cities from Newark, New Jersey to Dallas, Texas courted the $1 trillion technology company with dog and pony shows and chunky incentives.
Yet Amazon has run head long into a conundrum: It bulked up just as a massive overhaul in both the technology sector and the workforce started to take shape. In 2018 when AmazonArlington the contract out of more than 230 cities in North America competing for the honor, the company counted some 648,000 full-time and part-time workers. Though its rank and file has more than doubled since then, top line growth has slowed from roughly 30% in 2018 to 10% in 2022.
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