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> Amazon is planning to cut as many as 30,000 corporate jobs beginning on Tuesday, as the company works to pare expenses and compensate for overhiring during th
by ndiddy 1y ago
> Amazon is planning to cut as many as 30,000 corporate jobs beginning on Tuesday, as the company works to pare expenses and compensate for overhiring during the peak demand of the pandemic, according to three people familiar with the matter.
It's been over 5 years and I don't know how many rounds of Amazon layoffs since the pandemic. How are investors still fooled into thinking this is a valid excuse?
- christhecaribou 1y agoBecause investors aren’t actually very intelligent, beyond some vague desire to “make my money bigger”.
- seanmcdirmid 1y agoInvestors only see cutting people as a good thing, the excuse isn't for the investors, its for everyone else.
- webdevver 1y agowhy do you assume mass firings are a bad thing? shedding 'dead weight' (morality aside) is a good thing, no?
- DangitBobby 1y agoWhy set morality aside?
- deleted 1y ago[deleted]
- Tadpole9181 1y agoBecause they aren't and this is just borderline financial fraud? They fire tens of thousands right before an earnings call and then use that to generate future reports. Investors invest and stockholders sip champagne, then they go rehire a significant portion back, completely invalidating all that unlimited growth they promised. Then, when the next earnings call comes they make some moronic excuse and do it all again. And the past 20 years in the domestic market should have made it abundantly clear to everyone that Wall Street are too stupid to catch on / so bought in they need it to work. The layoff numbers keep growing too, if you notice. (Fraudulent) numbers keep going up! Yay! ---- Not to mention, what happened to making money by being innovative and changing the world? These days, everything just looks to be in the business of growth via scamming consumers of their hard-earned money. They just gave up any pretense of good products or quality service - "fuck you, give me your money" at every. single. turn. Then all that money goes to 10 guys while everyone else breaks their back for nothing, forced to piss in bottles before going to their +10% YoY apartment to wait to die from health problems they can't afford to fix.
- thewebguyd 1y ago> Not to mention, what happened to making money by being innovative and changing the world? Too slow and expensive. Why innovate when you can extract instead. It's the financialization of our economy. No one cares about or even has incentive to make better widgets, all the incentive is in financial optimization and squeezing out every last cent because the business is now a financial asset, not a product company.
- Tadpole9181 1y agoExactly. And it's so obvious. "Pandemic overhiring"? Christ, that was half a decade ago. The pandemic has been over long enough for a kid to go through high school or get a Bachelor's! But the board will be enriched by this, and that's all that matters.