Amazon CFO Discusses Earnings Decline, Headcount Increase

Online retail giant Amazon.com recently posted a steep decline in fourth-quarter earnings coupled with slow revenue growth, but the company's finance chief says there are still a number of opportunities out there to increase business.

The Associated Press reports CFO Tom Szkutak was asked during a conference call with analysts about the company's hiring increase in the face of declining earnings. Currently, Amazon boasts more than 52,000 full-time and part-time workers.

"First thing is, we are investing in a lot of different areas across the businesses we've talked about," Szkutak noted. "That being said, when you look at that increase that you're referring to, the majority of those increases are in our operations and customer service area. And so again, it's in support of the growth and certainly, you're seeing it also in our operating costs."

Szkutak added that "we're fortunate to have a lot of opportunities," and that growth can come and go in cycles.

According to Reuters, Amazon's shares fell 12 percent in early trading on Wednesday, February 1.