Amazon Expected to Lay Off 10,000 Employees Following $1 Trillion Loss in Market Value

Tsing

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Amazon is planning to cut ties with a significant number of its employees, according to a report shared by The New York Times today that suggests the retail giant will be laying off "approximately 10,000 people in corporate and technology jobs starting as soon as this week."

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It's as if high prices when you are a marketplace mean that less people buy because everything is more expensive. Amazon should be fighting for the little guy that buys their 20 dollar BS items with free shipping via Prime ALL the **** time. That will restore that Trillion dollars and more.
 
They are paying the price for rings of powah.

Amazon is so desperate that they offered me a free prime trial three times just this year, now I'm just outright turning it down.
 
For the first time I'm seriously considering dropping Prime.

It no longer gets you premium shipping - we have to drive to the post office a day after the promised delivery date to pick up half our stuff as it is , not everything qualifies for "Prime" anyway, and a lot of stuff is >2 days. That was really the biggest reason we had it. You just get "less bad" shipping with Prime than you do without.

Combine that with third party sellers that flood the place with counterfeits, Chinese copy-cat knock offs, and other junk that you are better off not touching. And the prices there just aren't that good any more, it's rare that Amazon is the best deal on something any longer. Prime Reading is a joke and not worth anything. I don't use Prime Music or Prime Photos. Occasionally Prime Gaming will have something not horrible, but I don't think I've played anything I have got from there.

I suppose you could also consider the humanitarian aspect of it: Amazon treats a lot of their employees and subcontractors like absolute **** - but that I don't think is enough to get me to boycott... employees aren't indentured servants; I'm sympathetic, but it isn't like they are shackled to their trucks and couldn't apply and work elsewhere. But it's just one more log to throw on this dumpster fire.

We do watch Prime video a bit, so there is that I suppose, and probably the only reason I've not just dropped it off.
 
I mainly use a different webshop since there is/was no Amazon Belgium, back in ye olden days I could choose between UK, Germany of France but those have no localised products, but they have since a couple years opened a Dutch shop which I on occasion use if they have something I can't find elsewhere, but deliveries are pretty slow.

They recently also opened a Belgian shop, but I think most of the stuff will still come from abroad since Belgium is pretty small and the french side is used to Amazon France.
 
Brian_B said:
It no longer gets you premium shipping - we have to drive to the post office a day after the promised delivery date to pick up half our stuff as it is , not everything qualifies for "Prime" anyway, and a lot of stuff is >2 days. That was really the biggest reason we had it. You just get "less bad" shipping with Prime than you do without.
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Daaaaaaaaaaaaaang, I can't believe it's gotten that way for you! I really hope that doesn't end up happening to me (although I can see which way the wind is blowing)! Things have been going the opposite way for me in the past couple years, where sometimes I get stuff shipped to me in one day, and a few times my stuff was even delivered on the same day I ordered! Yeah the "free" 2-day shipping was the primary reason my family jumped on Prime years ago, and for me it's still really the only reason to use Prime.
 
Brian_B said:
For the first time I'm seriously considering dropping Prime.

It no longer gets you premium shipping - we have to drive to the post office a day after the promised delivery date to pick up half our stuff as it is , not everything qualifies for "Prime" anyway, and a lot of stuff is >2 days. That was really the biggest reason we had it. You just get "less bad" shipping with Prime than you do without.

Combine that with third-party sellers that flood the place with counterfeits, Chinese copy-cat knockoffs, and other junk that you are better off not touching. And the prices there just aren't that good anymore, it's rare that Amazon is the best deal on something any longer. Prime Reading is a joke and not worth anything. I don't use Prime Music or Prime Photos. Occasionally Prime Gaming will have something not horrible, but I don't think I've played anything I have got from there.

I suppose you could also consider the humanitarian aspect of it: Amazon treats a lot of their employees and subcontractors like absolute **** - but that I don't think is enough to get me to boycott... employees aren't indentured servants; I'm sympathetic, but it isn't like they are shackled to their trucks and couldn't apply and work elsewhere. But it's just one more log to throw on this dumpster fire.

We do watch Prime video a bit, so there is that I suppose, and probably the only reason I've not just dropped it off.
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I feel the same with most of this but I'm still getting mostly good results with Amazon, but I know that's just luck of the draw. However, I started noticing a change for them, Sam's, Walmart, BB, Newegg, and some others, at the beginning of 2019, roughly 9 months before the pandemic hit.

Coincidentally over the weekend, I was actually thinking about the more drastic changes with Newegg I've seen in the last couple of years and googled "who owns Newegg" and got some interesting results that explain more than a few things. In part, this was inspired by the recent story from GN where they bundled incompatible motherboards and ram for combo deals. Btw I noticed this weekend they have started to carry GPUs from China/Asia now, afaik, the only major retailer in the US to do so.

Aside from our own needs I also process all the monthly supply orders for my other job and have encountered consistent challenges with various sites/companies and even more so in the last six months. Shopping around is the only answer anymore and there is no one that I solidly depend on anymore. I do miss those days but for now, that era is gone. I honestly feel that it's just plain worse across the board and I just take it a day at a time when I have to order anything.
 
Inflated stock price. Why lay off people, weren't they profitable a plenty? Laying people off only to service stock price is nonsense, you are assuring you are going to contract as a company in real terms, basically chasing your new valuation. Then again people including myself are getting crushed with real inflation, so yeah that may be crushing them slowly in turn.
 
Right before the busy holiday season? That seems....odd. One would think they would milk the workers until after the NY then announce massive layoffs.

Most corpos like to do the layoffs in Jan / Feb so they can skip annual reviews/bonus/raises. At least the ones I have worked for.

Unless Commander Dildohead is trying to get the stock to do something sooner rather than later.
 
Peter_Brosdahl said:
FB, Twitter, and now Amazon. I wonder what they know that we don't.
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That EVERYTHING is more expensive so they are cutting where they can to maintain cash flow. These people being let go were considered... overflow workers... AS they trim back the already demanding workflow of their workers will only increase.

They don't know anything we don't Their expenses have gone up to grow and maintain their environment be that IT, facilities, and other commitments they can't back out of. The last option is to trim the 'fat' from the workforce in order to operate more efficiently. IE no you can't have your vacation because bob was fired and there isn't anyone to backfill your role while your visiting your grandma who is going to die soon.
 
Peter_Brosdahl said:
I think some of these companies have profit expectations that go well beyond anything most of us would consider realistic.
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Yup. Wall Street only values positive growth. The fact that you are making money isn’t good enough - you have to be making more money
 
Brian_B said:
Yup. Wall Street only values positive growth. The fact that you are making money isn’t good enough - you have to be making more money
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Remember when Amazon was loosing money every year but people kept piling on. Where are those investors now? lol.
 
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