New York’s largest publisher of ebooks has said it is going ahead with a plan to cut costs by closing some of its ebooks and moving some online.
In a statement to The Hill on Tuesday, Amazon said it will cut its print and online editions of The New York Post, The New Yorker, The Washington Post and The Wall Street Journal by 30 percent in 2019 and 2020, respectively.
The company plans to shut down The Wall St. Journal and The Post.
It will also shutter some of Amazon’s online ebooks, which it says are “underperforming” and will be discontinued in 2020.
The statement did not say how much the company will cut, but it will close some of the company’s digital offerings, which include Amazon.com, Kindle, and iBooks.
Amazon said it plans to invest $200 million in new technology and hiring to bolster its digital operations.
It is also planning to cut its workforce in the United States and other countries by about 100,000, the company said, as it tries to cut more costs in the face of declining revenues and slower growth in digital sales.
Amazon has said its online business has been hit hard by the economic downturn.
Amazon has struggled to keep up with its competitors, which have more extensive print editions.
The Times and The Washington Times’ print editions have been among the most popular online retailers, but the Times has also struggled to find publishers willing to print the paper’s ebooks.
Amazon’s e-books have a wider range of titles than traditional books, which make up about 75 percent of the paper and online sales.
The paper and its online counterparts also offer a wider selection of books and movies.