Posted on 11/14/2022 2:39:20 PM PST by Texas Fossil
At a time when/if the economy was functioning as most economic pundits have previously proclaimed, Amazon and other retail giants would normally be beefing up workers in anticipation of the holiday shopping season. However, with the midterm election in the rearview mirror, exactly the opposite is happening. {Backstory on prior employment announcements}
According to multiple media reports, Amazon is expected to announce layoffs for approximately 10,000 U.S. workers this week. Yet another indication the economic pretending is coming to an end right after the midterm election is concluded.
(CNBC) – Amazon is planning to lay off approximately 10,000 employees in corporate and technology roles beginning this week, according to a report from The New York Times. Separately, The Wall Street Journal also cited a source saying the company plans to lay off thousands of employees.
Shares of Amazon closed down about 2% on Monday.
The cuts would be the largest in the company’s history and would primarily impact Amazon’s devices organization, retail division and human resources, according to the report. The reported layoffs would represent less than 1% of Amazon’s global workforce and 3% of its corporate employees. (read more)
As previously noted by Yahoo News, a “wave of layoffs” has begun that encompasses dozens of medium and large corporations [SEE HERE].
The layoffs, outlined in Yahoo, cover real estate, tech companies, banking, finance, automakers, EV startups, and brick and mortar stores like 7-11 and GAP. It should not come as a surprise, but it is sad to see, nonetheless.
Within the economy, a great pretending can only last so long… then reality hits.
The skilled trades should likely end up in the best employment situation, with the tech sector the worst. Service industries are also one of the first sectors hit when employment becomes an issue.
With rising interest rates, high inflation, excessive inventories, a shrinking production economy, extreme energy costs and diminished disposable income as a result of inflation and gas prices, there was going to come a time when it all starts to congregate.
2023 looks to be the year when economic pretenses collapse under the weight of having to admit a recession exists.
This is shaping up to be a painful holiday season….
They can learn to mine coal..
A few years ago my organization had a mass round of layoffs in my section worldwide right before Christmas.
Ever since I half expect a present I don’t want or need around Christmas time.
Hmmm I joined the workforce during the Carter years and am retiring in the midst of the Bidung years. Lucky me! I think I’ll keep my two other jobs though.
There’s a sign of a great economy. Just like Plugs said.
I could have swore I heard Bezos said a collapse was coming.
“Those of you who voted for this deserve what’s coming to you. Enjoy your vote.”
https://www.floppingaces.net/2022/11/09/dear-america/
It’s short and a good read if you have time.
With any luck they are all demonrats and hopefully they all suffer greatly.
Yeah I said, so what.
The article did say the layoffs would be in "corporate" and "tech" areas - delivery drivers were never mentioned, FWIW.
When inflation and layoffs threaten, non-essentials get cut first.
RV's, boats, motorcycles, toys, etc.
How much of what Amazon delivers do we really need?
Amazon Planning to Announce Layoff of 10,000 Workers This Week
Yet another indication the economic pretending is coming to an end.
Dat be your work Joey
Shapiro is going to ban fracking
Interesting. How many Amazon workers with pink hair and nose rings voted to keep the Dems in power and now they are being laid off? I should feel sorry for them but I don’t.
I buy some supplements such as Turmeric from Amazon. I checked and it’s made here in the States.
You’re wise to do that.
Yes, it’s scary. Good luck.
Amazon employs 1.5+ million people worldwide.
10,000 is < 1%.
this is like laying off 1 or 2 people in a typical mid sized company
I quit worrying it doesn’t buy anything.
Zombies are going to get slaughtered. I don’t think people understand the damage the federal reserve’s last 10 year interest rates policy has been. People, companies, funds …GOVERNMENTS … that are addicted to cheap debt will get slaughtered.
That’s pretty much how I now look at it.
A couple of bouts ion hospital for a couple of near fatal misadventures opened my eyes a lot.
Deliveries already slow. I’m going with WM. Much faster
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.