Report: Former Walmart CEO calls out Amazon as being ‘predatory’
It seems Walmart’s former CEO shares President Donald Trump’s feelings about the power and impact of Amazon on the retail industry.
Bill Simon, who served as Walmart’s CEO between 2010 and 2014, said Congress should consider splitting up Amazon, reported CNBC. Simon called out the company for operating its retail segment at a loss for decades, and subsidizing the retail portion of its business with profits from other areas, such as Web services.
In the report, Simon said, “They're not making money in retail, and they're putting retailers out of business. It's not going to hurt the big ones…it’ll hurt small retailers, and it'll hurt specialty chains. It's anti-competitive, it's predatory, and it's not right.”
To read more, click here.
Bill Simon, who served as Walmart’s CEO between 2010 and 2014, said Congress should consider splitting up Amazon, reported CNBC. Simon called out the company for operating its retail segment at a loss for decades, and subsidizing the retail portion of its business with profits from other areas, such as Web services.
In the report, Simon said, “They're not making money in retail, and they're putting retailers out of business. It's not going to hurt the big ones…it’ll hurt small retailers, and it'll hurt specialty chains. It's anti-competitive, it's predatory, and it's not right.”
To read more, click here.