Amazon.com, Inc. (NASDAQ: AMZN) is looking to sublease at least 10 million square feet of its warehouse space, following a decline in demand after almost two years of exceptional growth, a report published by The Wall Street Journal said citing a person with knowledge of the matter. The e-commerce giant is also considering options for ending or renegotiating leases with outside warehouse owners. These moves come after the company reported a loss in the first quarter of 2022. It was the first time in seven years that Amazon reported a loss. A spokeswoman of the Washington-based company said, "Subleasing is something many established corporations do to help manage their real estate portfolio.
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