Prime business success

Betty Henderson

GLOBAL giant, Amazon registered record profits in Spain once again in 2022. The multinational retail corporation reported a whopping €6.4 billion in sales for 2022 in figures released on Friday, April 21.

The figures represent an income increase of almost 7 per cent compared with last year.

Amazon’s earnings include revenues from its physical marketplaces operating in Spain, as well other branches of the business including Amazon Web Services.

The company credits its Spanish success to investments totalling €3.7 billion in the country, which includes the opening of two new logistics centres in Zaragoza and Girona. With 22,000 employees and over 40 facilities throughout Spain, Amazon is among the top 10 employers in the country.

However, the company isn’t without its critics, particularly as it announced some 9,000 layoffs globally, earlier this year which caused concern. Amazon later clarified that the layoffs are not exclusive to Spain, saying that it actually plans to expand its workforce to 25,000 employees in the country by 2025.

Despite its immense success, Amazon said that its profit margins remain low due to the competitive market and increasing operating costs.

THE European Union (EU) has issued a stern warning to Spain over a controversial environmental law that seeks to legalise irrigation in thousands of hectares of land around Doñana National Park, one of the most important wetlands in Europe.

Virginijus Sinkevičius, the European Commissioner for Environment, wrote a letter on Thursday, April 20, expressing his concerns about the proposed law and threatened to take legal action if it violates environmental legislation.