Amazon has raised the number of jobs it plans to cut 18,000

Post by roflyear » Thu, Jan 05, 2023, 3:00 PM UTC

mc32 wrote: post #49

honestduane wrote: post #26

This is just corporate gaslighting at this point; There is no legitimate reason so many very profitable tech companies need to fire so many when we are not even in a recession according to the United States Government and the treasury and the banks, and its not like they are not making record profits. They cant say "we are making record profits" and in the same breath say "we need to fire people to survive" that's no…

According to Joe Biden, we've been in a recession for two years. But even if he was imprecise as he is wont to be, the Fed is saying there is a slowdown. Companies are not going to wait till they are near bankruptcy to lay people off. Yes, they overhired but also those people hired got experience and a job. They may have instead landed a different job paying less (otherwise they would not have taken this job) or they…

Post by firstSpeaker » Thu, Jan 05, 2023, 3:03 PM UTC

shmatt wrote: post #51

noodle wrote: post #47

Earlier quoted context omitted.

If they were making record profits, they would be looking to expand their profitable divisions, would they not? They would likely not lay people off, but reorganize internally to move resources away from failing areas and into the clearly thriving, very profitable areas; or start something completely new. Hiring one good employee is expensive and difficult.

I feel like im stating the obvious but you can't just double the headcount on AWS and expect AWS profits to double The profitable divisions are probably still hiring, and there might be an option for some of the 18,000 to interview internally before getting terminated, some companies gave that option (30 day internal interview deadline). But you can't just move 3,000 Alexa employees to AWS and expect things to go smo…

Post by moonchrome » Thu, Jan 05, 2023, 3:05 PM UTC

noodle wrote: post #47

shmatt wrote: post #31

Earlier quoted context omitted.

Making profits does not have to mean funding teams that aren't generating anything significant in terms or product and/or income. Many of these companies have a small portion making most of the profits, and all the others eating them up (see: VR, Voice). You can do it the Amazon way, cutting products that are bleeding money, or the Salesforce way asking all units to cut 10% across the board, but just keeping failed p…

If they were making record profits, they would be looking to expand their profitable divisions, would they not? They would likely not lay people off, but reorganize internally to move resources away from failing areas and into the clearly thriving, very profitable areas; or start something completely new. Hiring one good employee is expensive and difficult.

Post by firstSpeaker » Thu, Jan 05, 2023, 3:06 PM UTC

Post by jacobsenscott » Thu, Jan 05, 2023, 3:06 PM UTC

deltree7 wrote: post #36

honestduane wrote: post #26

This is just corporate gaslighting at this point; There is no legitimate reason so many very profitable tech companies need to fire so many when we are not even in a recession according to the United States Government and the treasury and the banks, and its not like they are not making record profits. They cant say "we are making record profits" and in the same breath say "we need to fire people to survive" that's no…

This is a very naive take. When I invest in Amazon or any other company, I expect Amazon to invest in projects that give me a rate of return that exceeds the 4% that I can easily get from Treasury. If it can't, Amazon better return my money. Also, Amazon can't hoard employees that aren't being productive. It is better those employees work for startups and other endeavors. individually, it sucks short-time, but as a n…