Amazon has paused the construction of its second headquarters.
The company is facing slower sales growth and staff pushback in response to its recently announced return-to-work policy.
- Amazon announced plans to build a new headquarters (HQ2) In 2018.
- The original plan was to split the headquarters between Arlington, Virginia, and Long Island, New York, but the New York location was canceled in 2019.
- Amazon committed $2.5B to its HQ2 project in Arlington, Virginia, where it is expected to hire 25,000 workers.
- Amazon told Bloomberg on Friday that the company has paused the construction of its new headquarters.
- The pause will delay the project's second phase, which is set to include three 22-story office towers and a 350-foot-tall Helix-shaped structure.
- Shares in the project's developer, JBG Smith Properties, fell 8% to a record low following the news.
