Amazon CEO Pledges to Keep Investing in Big Bets Amid Cost Cuts

Amazon.com Inc. Chief Executive Officer Andy Jassy pledged to keep investing in big long-term bets despite cost-cuts and an uncertain economy, moving ahead with a global expansion and efforts to become a bigger player in groceries and healthcare.

“I’m optimistic that we’ll emerge from this challenging macroeconomic time in a stronger position than when we entered it,” Jassy said Thursday in his second letter to shareholders as CEO.

Andy Jassy

Photographer: David Ryder/Bloomberg

The missive coincides with a period of rolling layoffs at the Seattle-based company, as executives seek to cut costs and wind down marginal or unprofitable projects. Amazon started cutting jobs ...