reconstruct a modern, durable business model,” CEO Mark Tritton said in a statement. “We do not take this action lightly but, while difficult, these measured and purposeful steps are necessary.’” USA Today reports that the company expects the cuts and other efficiency measures will save several hundred million dollars. The paper also reported that previously announced closures of up to 60 stores were still planned, but that 20 of the closures would be delayed pending the results of other cost-cutting measures. Amazon cracks down on corona cons As fears and rumours about the coronavirus spread, Amazon has been forced to withdraw more than a million products that made false claims to be cures or defences for the deadly disease. The giant online retailer has also responded to apparent gouging, as prices for such ordinary items as sanitising gels and facemasks soared, warning sellers that inflated prices would not be tolerated. Reuters reports that one merchant, for example, offered a 10-pack of N95 masks for $128, up from a recent average price of $41.24. The company said it has monitored for price spikes and false claims through a mix of automated and manual review of listings. Ikea cuts greenhouse gases Ikea has reached another milestone in its quest to become cleaner and greener, as carbon emissions across the chain fell for the first time last year, according to a sustainability report released last week. The world’s biggest furniture brand attributed the positive numbers to its investment in renewable energy plus significant increases in energy efficiency of the lighting and appliances range. Ikea maintained steady sales growth of 6.5 per cent while its footprint decreased by 4.3 per cent to 24.9 million tonnes, or FY16 levels, Ecotextile News reports. Late last year Ikea announced plans to invest €200 million ($370 million) to both increase renewable energy within its supply chain and to offset CO2 emissions via better forest management. Ikea is aiming for its chain to be climate positive – where it cuts more greenhouse gas emissions than it emits – by 2030. Klarna posts loss after expansion Swedish online buy now pay later service Klarna has reported its first annual loss after a year of vigorous expansion in the US, Europe and Australia. The company links up customers with retailers like H&M, ASOS, Boohoo and Ticketmaster through its online lending platform, and says it now adds a new merchant every seven minutes. Klarna launched in Australia at the end of January. The service, which enables a customer to buy from an online retailer and pay for their goods in four payments, is backed by the Commonwealth Bank. This is the first year in which Klarna has posted a loss since it was set up in 2005, making it, according to Reuters, an outlier among tech companies which often lose money for years. Klarna’s 2019 operating loss was 1.1 billion Swedish kronor ($117 million), against a 160 million kronor profit for 2018. The company said it was not worried by the results, which were due entirely to investment and had been flagged earlier to investors. Walmart eyes Asda sell-off Walmart is attempting to unload a stake in British grocery chain Asda, which failed last year to merge with Sainsbury’s. Walmart bought Asda in 1999 for £8.7 billion. Asda, like most traditional food retailers, has been losing market share to German discounters Aldi and Lidl, and its Christmas sales were down. Reuters reports that private equity firms were most likely to be interested in taking a stake in Asda, and that analysts expected Walmart to retain a stake in the company.