Signs of the Impending Recession...Amazon is Laying Off 18,000 (or more) Workers

[YouCanSitWithUs 394]

Amazon will lay off more than 18,000 workers | CNN Business

Amazon announced today that it will cut 18,000 or more workers this quarter, up from the 10,000 cuts that were expected originally. This comes after Meta announced 11,000 layoffs earlier this week, Elon Musk announced cuts to the $44 billion Twitter company's workforce, and Salesforce also announced they will be eliminating 10% of its staff this week. 

The company, Amazon, will start informing those who will be affected by the decision starting January 18. The CEO of Amazon said the layoffs were to "help Amazon pursue long-term opportunities with a stronger cost structure". 

http://www.cnn.com/2023/01/04/business/amazon-layoffs/index.html

 

 

[EGOT2027 10,966]

people on this website have said there is a recession coming for years now

[YouCanSitWithUs 394]

8 minutes ago, EGOT2027 said:

people on this website have said there is a recession coming for years now

They were right...sometimes recessions take years to happen.

It's pretty obviously coming and it's just a sloooooooooow burn into one. Not all of them happen because of a "crash". Sometimes we "lull" ourselves into one...and this is a case of that.

[Knife 7,079]

If anything can save our economy, it's the Haus Labs Triclone Skin Tech Medium Coverage Foundation.

 

[Joshie S 6,556]

Stream Bloody Mary on iTunes & #SaveKesha

[berlinforme 5,385]

1 hour ago, EGOT2027 said:

people on this website have said there is a recession coming for years now

How can you doubt people on a pop music forum? We even have a user called Economy, doesn't that mean anything to you?

[RAMROD 117,002]

Is it what that is or is there another  reason?

On official blog post by the CEO that I read, the company's rapid hiring over the last several years.

https://www.aboutamazon.com/news/company-news/update-from-ceo-andy-jassy-on-role-eliminations

 

The way I took it, with the economic situation rn, (aka that people's buying power slows down), Amazon are likely needed to slim down some positions so they won't go bankrupt, if so that is pretty sensible move to me.  

Also, the ones that will be affected are the suits, aka corporate workforce, not the underpaid warehouse laborers, which kinda tells the nature of this move

[Luc 4,776]

Most articles predicting a recession are clickbait or have a political (anti-Democrat) motive. As it looks right now, any recession that could happen in 2023 will be very small and a healthy correction to an overheating economy. Perhaps unemployment will go up 1%, to a level that is still extremely low. Unless something unpredictable happens, like in 2008, it's all going to go quite well.

Personally, I have more faith in the US economy than any other economy at the moment, and that's why I've been investing less in European stocks and more in American stocks lately. At the moment there is no reason to think that the US economy will face any big or scary shock. Even with the high inflation of the past year and even if there could be a small recession coming months, most people will still be better off than in the previous years.

[SimonBaetens 9,471]

Tbh I hate Amazon so even though I feel for those losing their jobs, I’m not mad that their figures are bad.

[nATAH 56,853]

the news tag made me run... maybe the world news tag needs to not be purple

[Economy 52,839]

6 hours ago, YouCanSitWithUs said:

They were right...sometimes recessions take years to happen.

It's pretty obviously coming and it's just a sloooooooooow burn into one. Not all of them happen because of a "crash". Sometimes we "lull" ourselves into one...and this is a case of that.

LOL. Historically a recession on average hits the US every 6 years... You can't call a recession, be off by years and then claim you were right but we're just off in the timing cuz of course one is gonna come eventually  

 

If u wanna be some kind of economic predictor u need to be correct within a shorter time frame than that, if not you miscalculated the influence of any negative forces at play and even if a recession does happen the way u predicted, if your off by years for all intents and purposes you were wrong 

 

We can't all be like famous doomesdayer economist Peter Schiff saying since 2008 another recession is coming and when it came in 2020 cuz of covid (12 years later, double the length of average time between recessions) he claimed he was right all along

 

Edit: that being said @EGOT2027 we did get a recession in 2020 so the calls for recession weren't wrong... Even if ppl were wrong on the reasons and  right on the call by fluke cuz covid caused it and there's no way someone could of predicted a recession in 2020 cuz of covid so in a way they still weren't fully vindicated but kind of 

[Economy 52,839]

3 hours ago, Luc said:

Most articles predicting a recession are clickbait or have a political (anti-Democrat) motive. As it looks right now, any recession that could happen in 2023 will be very small and a healthy correction to an overheating economy. Perhaps unemployment will go up 1%, to a level that is still extremely low. Unless something unpredictable happens, like in 2008, it's all going to go quite well.

Personally, I have more faith in the US economy than any other economy at the moment, and that's why I've been investing less in European stocks and more in American stocks lately. At the moment there is no reason to think that the US economy will face any big or scary shock. Even with the high inflation of the past year and even if there could be a small recession coming months, most people will still be better off than in the previous years.

I do believe the next recession is likely to be mild to moderate (absent of any unpredictable wild cards such as worsening of war or major covid comeback)

 

About the unemployment tho, even tho it's more of a side note and I'm not disputing ur idea as a whole I wanna point out although it's been lower than in recent history I dunno if I'd call it "very low"

 

Ppl often forget we changed the way we measure unemployment near the end of last century and it gives us lower numbers than it used to making historical comparisons apples to oranges

 

Politicians trying to take credit for 50 year low unemployment conveniently leave out that the last time the numbers were this low, we were using metrics that would give us double the number now

 

Also most countries new metrics even now are still more conservative than the US. The way the US measures unemployment gives them a lower number than say Canada or France for example under the exact same labor market

[AsleepOnTheCeiling 6,939]

An e-commerce company, operating 305 warehouses, that flourished during a global lockdown laying off 18,000 employees after consumer habits largely return to normal? Color me shocked. 

[Dojo 19,823]

i feel like we are always in a recession? most of the 2010s i remember people freaking out about it and sometimes even declaring it

[pachinko 10,752]

7 hours ago, EGOT2027 said:

people on this website have said there is a recession coming for years now

And it’s finally here. I don’t understand your post.