Amazon has decided to pause construction activities at its second headquarters in Arlington, Virginia, following a poor 2022 financial performance that saw the company register over $2 billion in losses.
The Seattle-based e-commerce giant is developing its Arlington base, HQ2, in two phases—the Met Park and PenPlace. The company has decided to pause construction in PenPlace as Met Park is believed to be enough to house the firm’s existing employees. Amazon’s decision to pause HQ2 construction comes as the company reported poor financial performance last year. For 2022, Amazon posted a net loss of $2.7 billion, its biggest annual loss on record.
