More cost cuts? Amazon is shuttering Go stores after HQ2 construction halt
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Despite Amazon (NASDAQ:AMZN) committing to expanding its brick-and-mortar grocery store business, the company is shuttering eight cashierless Go convenience stores.
Speaking about the e-commerce behemoth's physical presence, Amazon (AMZN) just halted construction of its second headquarters in Virginia. It said it was part of broader cost-cutting efforts amid the shifting macroeconomic climate.
Four Amazon Go stores in San Francisco, two in Seattle and two in New York City will be closed on April 1. The Seattle closures will have minimal impact as both stores have been shut for some time. 
However, Amazon (AMZN) plans to continue opening new Go convenience stores. There are 29 Amazon Go locations currently. 
"Like any physical retailer, we periodically assess our portfolio of stores and make optimization decisions along the way," an Amazon spokesperson told Seeking Alpha. "We remain committed to the Amazon Go format and will continue to learn which locations and features resonate most with customers."
The company's CEO Andy Jassy planned to double down on its physical retail presence this year, despite Amazon Fresh grocery stores and Amazon Go convenience stores struggling to gain traction.
In its Q4 earnings call, Amazon (AMZN) said it would "exit certain shops with low growth potential." It had recorded a $720M impairment charge related to its grocery stores in Q4.
Amazon (AMZN) has been struggling with growing costs amid ongoing macro uncertainty, and announced over 18K job cuts earlier this year.