Amazon is doing something the e-commerce giant has almost never done: It’s getting smaller. The company is undertaking a “cost-cutting review” as it pares back on business units that haven’t been profitable. The WSJ’s Dana Mattioli, Sebastian Herrera and Jessica Toonkel report that among the potential targets is the Alexa business, which has more than 10,000 employees. Documents reviewed by the Journal suggest that the hardware business that includes that home-assistant line runs annual operating losses of more than $5 billion. The company is pulling back its aggressive logistics expansion and it has closed a variety of teams in areas such as robotics and retail. Amazon said it has accelerated evaluation of robotics research projects and plans to cut about 2% of the jobs in that group. It has sought ways to save money at its warehouses and to maximize the use of space on its delivery trucks.

• Alibaba is winding up its annual Singles Day sales event with subdued orders and no fanfare. (Reuters)
• Gap started selling some of its apparel on Amazon. (WSJ)

The abrupt pullback in e-commerce demand is setting up turbulence in the air-cargo sector. Jaw-dropping amounts of money have poured into freighters over the past two years, and the WSJ’s Jon Sindreu writes in a Heard on the Street column that aviation may be among those paying for believing that the pandemic online sales trend could last forever. Amazon, FedEx and United Parcel Service have been buying planes while the big ocean shipping lines are getting in on the action. Conversions of passenger jets to freighters are also at a record high. That includes big numbers of narrow-body aircraft, planes best suited for the smaller volumes in express operations. But airfreight demand is in retreat: WorldACD says global volumes fell 7% in the first week of November from the week before. FedEx is grounding some planes, and it looks like parking space for freighters may be in high demand.

• Emirates ordered five Boeing 777 freighters despite rancor over delayed aircraft deliveries. (Seattle Times)
• Alaska Airlines will have Boeing convert two 737 passenger planes to freighters. (Simple Flying) 
• Cathay Pacific resumed flying over Russia on its Hong Kong-New York route. (Air Cargo World)

Apple’s relentless growth streak for iPhone sales may come undone thanks to supply-chain woes. The company is coping with reduced production at its biggest iPhone assembly factory in China just as it is trying to convince customers to buy the priciest smartphones that have powered Apple’s revenue growth. The WSJ’s Aaron Tilley reports the supply crunch is hitting premium Pro models of the smartphone the hardest. Analysts now expect Apple’s December quarter revenue to grow 2%, the lowest growth for that quarter in four years, and iPhone sales in the next fiscal year to be roughly flat compared to the current year. Contract manufacturer Foxconn says it hopes to quickly bring production back to normal at the Zhengzhou plant hit by a Covid outbreak and worker shortages. Foxconn is still operating there under a closed-loop system, isolating workers in operations that have angered staff.

• China on Friday eased some of the Covid-19 restrictions that have roiled supply chains. (WSJ)

Consumer inflation in the U.S. eased last month as underlying price increases in food and energy slowed. (WSJ)

The U.K. economy contracted 0.7% in the September quarter, signaling the country is all but certain to enter a recession. (WSJ)

Initial U.S. unemployment claims remained near historically low levels. (WSJ)

Beyond Meat reported tumbling quarterly sales and growing losses. (WSJ)

Makers of luxury clothing and other pricey consumer goods are seeing signs of slowing demand. (WSJ)

Sales of luxury cars in Japan are booming. (Japan Times)

A persistent backup of ships at Georgia’s Port of Savannah could last until the end of the year. (Dow Jones Newswires)

S&P projects global container demand will grow at an average annual rate of 3% through 2030. (ShippingWatch)

Container line Hapag-Lloyd warned of “difficult waters” ahead after net profit more than doubled to $13.8 billion in the first nine months of the year. (Reuters)

Shipping executives expect the delivery of more than 400 new ships in the next two years will drive down freight rates. (South China Morning Post)

Values of older oil tankers are soaring in part because some ship owners are buying them for Russian business. (Lloyd’s List)

Adani Ports began construction of a large container terminal at Sri Lanka’s Colombo port. (Port Technology)

Freight broker C.H. Robinson Worldwide is preparing to lay off up to 1,200 workers after reporting weaker quarterly earnings. (The Loadstar)

A federal survey showed many women truck drivers don’t report sexual harassment incidents because they don’t believe it would make a difference. (Transport Dive)

Lion Electric nearly quadrupled its truck deliveries last quarter to 156 vehicles. (Today’s Trucking)

More than half of Americans in a survey say they want to see package companies switch to electric delivery vans. (Supply Chain Quarterly)

U.S. authorities are investigating whether transport equipment supplier Pitts Enterprises evaded duties on imported chassis. (Journal of Commerce)

Transportation management software provider MercuryGate International bought supply-chain software firm ClearTrack. (DC Velocity)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.