Amazon CEO Andy Jassy says layoffs will continue into next year

https://www.cnbc.com/2022/11/17/amazon-ceo-andy-jassy-says-layoffs-will-continue-into-next-year.html

by mrkramer • 4 years ago

146 168 4 years ago

Seems cruel to announce this with such a long timeframe before the layoffs conclude. Will leave lots of people worried over the holidays.

GoOnThenDoTell• 4 years ago

It also gives more time to look for new jobs as a backup

sokoloff• 4 years ago

Which probably represents an adverse selection problem for Amazon. Their best employees have seen their long-term comp prospects decline significantly (along with everyone else), and now have added uncertainty about their future at Amazon, whether or not they're laid off. If they are, they're going into a competitive market with fewer FAANG-level openings being hired for. If they aren't, they're bag-holding for the same amount of software with fewer team members to cover it.

Why wouldn't someone look under those circumstances?

yunwal3• 4 years ago

Not only cruel but unproductive. If I’m on a bloated team at Amazon right now, why would I be working on anything but my resume?

300bps• 4 years ago

Anytime I’ve been confronted with the possibility of being laid off in my career I’ve put my head down and worked harder.

Never been laid off thankfully.

discodave• 4 years ago

One answer would be: Because the 'unregretted attrition' or PIP quota is still a thing!

But also, people voluntarily quitting is even better for Amazon.. no severance.

rufus_foreman2• 4 years ago

Because it's your job and you're a professional.

chollida12• 4 years ago

Because you’re getting paid to?

I mean if you want to stay, why wouldn’t you continue to work in a productive manner?

The world is smaller than you think. There’s a good chance that if you ever interview at. Another big tech company someone will talk to someone who worked with you and your reputation will follow you around.

ghaff• 4 years ago

It's pretty obvious at tech companies generally that things are not as stable or on the upswing as they were a couple years ago. Better to be honest that change isn't over.

bmitc4• 4 years ago

Is it professional to treat employees like a line item on a balance sheet and then subsequently mismanage that line item?

yrgulation5• 4 years ago

Easier to tame the workforce if kept under threat for longer time. Want to work from home? You may be chopped. Want better working conditions? You may be chopped. That complaint about your manager? You’re at it.

givemeethekeys2• 4 years ago

Since Amazon lays people off all the time any way, I'd say this is more of a stern reminder to get crackin' than new news.

solomatov2• 4 years ago

Layoff is pretty different from termination. I.e. layoffs happen because of economic circumstances, but termination might happen for many reasons, i.e. underperformance (after or instead of PIP), misconduct, etc

givemeethekeys2• 4 years ago

In California, one gets laid off (not fired, but laid off) after not passing PIP. One can also get laid off "at will" - any time for any reason.

When you first get a job, you sign an employment agreement that outlines your responsibilities. If you're actually doing a poor job, why would the employer bother putting you through a PIP? They'd just lay you off. The PIP is a renegotiation of your employment without giving you a raise. They'd like you to do more for less because they think that either the market or your financial position is in their favor.

hanafudafan• 4 years ago

The layoffs will continue as long as interest rates remain high. Not a lot of people know the relationship between lending and big tech, but suffice to say that the bloat we’ve seen from companies with no product except user data will be unsustainable in the face of higher interest rates. Permanently, if they remain high.

solomatov2• 4 years ago

Big tech income depends on the whole economy, most of which interest rate dependent. I wouldn't say that the business model is unsustainable (it's more complicated than you said), it just becomes less profitable (as everything else).

rabuse• 4 years ago

Exactly. Interest rates rising makes pretty much everything less purchasable for people.

amelius• 4 years ago

Not just income, also investments.

FormerBandmate• 4 years ago

The recent hiring has been fueled by record profits from the lightest monetary policy of all time

vineyardmike• 4 years ago

Most businesses I’ve talked to and worked with that borrow meaningful amounts are not so dependent on rates that increases of this much will meaningfully kill sound businesses. Rate changes as quickly as they are is the dangerous part, because it requires throwing out a lot of their short term plannings. Businesses and business leaders that have been around since the 90s are used to interest rates in excess of the current amount.

The economy at large is much bigger concern and impact to businesses. Even land development would continue, with only minor hiccups.

SQueeeeeL• 4 years ago

I think Warren Buffett had a very related take. Basically, in America at least, real businesses which simply make a profitable product well, are no longer viable. The only viable businesses are those which have some "trick" which appeals to the capital owning class, I feel like crypto is a pretty good example of this in action.

So we see this endless game of "large" "profitable" companies that are the equivalent of 90s vaporware, doing nothing but shuffling numbers around in a spreadsheet without creating value. But the government is terrified of any form of meaningful regulation (because so much campaign finance is tied into these zombie corporations)

kodyo• 4 years ago

Interest rates will remain high as long as federal spending remains high.

Bubble_Pop_222• 4 years ago

The layoffs will continue as long as interest rates remain high

Real rates are still negative. Isn't that all that matters?

CydeWeys• 4 years ago

No? High nominal interest rates are clearly themselves still bad for business.

adrr• 4 years ago

It isn’t even that high.

https://tradingeconomics.com/united-states/interest-rate

miked85• 4 years ago

It is relative to zero though, which is when these companies had stock prices go through the roof.

allthecybers3• 4 years ago

I think this was orchestrated to not give Amazon employees any internal (or very few) options for transfer. First they freeze corp hiring and thousands of positions dry up, then a long drawn out layoff is initiated that gets leaked in the press way before any senior leadership pipes up to talk about it. You have allegedly have 60 days to find a new position in the company. What positions? There is a hiring freeze. Plus in classic Amazon fashion the severance is on the low end of the industry. Plus the added departures just from the stress of not knowing who gets cut next. I guess this has been orchestrated for maximum attrition, which seems to be their forte over there under the orange smile.

I'm not a fan of Zuckerberg, but his communication about the layoff at Meta was much more timely, clear and empathetic than this note from Jassy.

- Zuckerberg: https://about.fb.com/news/2022/11/mark-zuckerberg-layoff-mes...

- Jassy: https://www.aboutamazon.com/news/company-news/a-note-from-ce...

jlynn• 4 years ago

Actually speaking with people at Amazon, teams are accepting internal transfers. External hiring is frozen.

allthecybers3• 4 years ago

They are accepting transfers. The number of available roles to transfer to has been drastically reduced.

iLoveOncall2• 4 years ago

This is not true. For example all of PrimeVideo has frozen even internal hiring, despite being identified as a growth sector for Amazon.

A few teams may still be hiring but they are very rare exceptions.

to11mtm2• 4 years ago

I'm not a fan of Zuckerberg, but his communication about the layoff at Meta was much more timely, clear and empathetic than this note from Jassy.

Ironically I remember some rabblerousing around Zuck's announcement as well but overall I would have to agree; Meta was a bit more transparent vs the staggered approach we are seeing from Amazon.

It's weird because there's still a 'public gap' with at least Amazon's announcement; as a person who has been at bigcorps, I know a hiring freeze is not a hard freeze or transfer-freeze, necessarily. But the overall messaging here is a bit more grim.

Plus the added departures just from the stress of not knowing who gets cut next.

My cynical and experienced self knows that I've sat in interviews where beforehand I was given a psychological profile based on how the candidate answered a questionnaire. (The company was sub 2k employees, which is worth mentioning because it obfuscates who I'm referring to but also shows how 'accessible' this service is.)

From this viewpoint, I'd have to say they are hoping that the people who don't jump ship are those confident enough their existing options will vest that they will stay, and can handle the impending work-life-balance disruptions.

Of course, they might not -actually- be able to. And some who think they can, cannot, and that will come out in the woodwork.

Perhaps more sadly though, are those who couldn't make it and suffered external effects.

It's a real concern. I was 'stuck' in a job due to the Great Recession and the consequences of not just quitting and doing some random minwage gig cost me a good 5+ years of my life to get back on my feet (There's still parts I'm trying to fix!)

tl;dr - This sounds like turnover for SDEs may get closer to warehouse worker turnover.

bink• 4 years ago

I remember complaints about Zuckerberg's announcement too, but they were more about the tone of the announcement than the fact that people were being laid off. His email suggested that some people weren't pulling their weight and needed to pick it up or resign. Even if that were the case that's a management or business culture problem and shaming people isn't the proper way to solve it.

lunarpunk• 4 years ago

I'm very curious, how did staying at a job throw you off your feet more than doing a random minwage gig?

Sometimes I have a feeling I could do with a random minwage gig for some time due to fatigue from programming in a corporate environment, but have been putting it off due to it being a questionable financial decision, especially now with a looming recession. Wha

db12343• 4 years ago

Meta employees were angry about the sudden layoff announcement and access cut off. Many wanted an advance notice like what Jassy has given. I guess there is no "right" way to do this.

In this particular case, what Jassy seems to be saying to employees is that they should be customer obsessed and work hard for the holiday season but he cannot guarantee they will still have their job in Q1. That sucks. My heart goes out to everyone who is and will be impacted.

makestuff3• 4 years ago

Yeah basically going to make everyone work hard over peak to try and keep their jobs then start the cuts in January. The cuts will probably be whatever the delta is between the missed revenue from q4 and what wall street estimated.

bogota• 4 years ago

At the end of the day all that really matters is the comp package.

echelon• 4 years ago

If a layoff isn't an attempt [1] to get rid of under-performing talent or dump under-performing business divisions, then I've always felt that across the board pay adjustments are a much more ethical approach.

I'd be much more inclined to stay at a company that lowered my pay 20% than a company that laid off my coworkers. Not letting people go shows empathy, and uniform pay decreases align everyone's interests in getting back to a good state.

I could see why some might jump ship from a poorly performing company during ordinary economic times, but during this down tech cycle, the grass isn't necessarily greener. Going elsewhere might be difficult or put your head back on the chopping block.

[1] Or as some might view it, an opportunity.

caminante2• 4 years ago

"Angry?" Sheesh...

Meta employees got gold-plated severance packages. The complainers have other issues than the layoff.

For those who lost their job in the United States, Meta said it would pay severance of 16 weeks of their base pay, along with two additional weeks for every year they worked at the company. Laid-off workers and their families will have health care paid for six months. [0]

[0] https://www.nytimes.com/2022/11/09/technology/meta-layoffs-f...

reilly3000• 4 years ago

Honestly if it needed to be done, it was kind to do it before the holidays with the generous severance. I think a lot of these folks might FIRE or otherwise start down a different path. I don’t know how Amazon is doing this right during their peak sales and logistics season.

allthecybers3• 4 years ago

Many wanted an advance notice like what Jassy has given.

There were 48 hours of layoffs and no communication from any CEO, S-Team member or other senior leadership at Amazon. Beth Galetti (HR) took the time write up a post about the hiring freeze a couple weeks back but radio silence from leadership while the rank and file scrambled to find out who was affected. With Amazon being so fastidious about communications to curate their corporate image, it's surprising that they didn't bother to communicate unless it was (possibly) intentional.

I appreciate Andy finally sending something out, but it feels like this was a big miss at the very least.

Source: https://www.vox.com/recode/2022/11/16/23463223/amazon-layoff...

refurb2• 4 years ago

I guess there is no "right" way to do this.

I've been through a number of layoffs all the way from getting notice that my last day is 2 weeks from the announcement to 9 months. To be honest, the shorter period was better, at least for me.

When it's a long notice (say >2 months), you enter into this weird gray zone. You're neither unemployed nor employed with a long term job. All motivation disappears and you're just "waiting". Obviously you can use the time to find a new job, but there is only so much time you can devote to that.

It was far better to get notice a month or two in advance of pending layoffs (exactly who not disclosed), then get an announcement that your last day is in 2 weeks, but you'll get 60 days of pay, then your severence payout.

Felt like "ripping the bandaid off" was much preferable. At least you can get on with things at that point.

jvanderbot• 4 years ago

Amazon has a bunch of internal openings and hiring waivers -- for the profit centers. I think most of the layoffs will be belt tightening. Including my entire org.

fred_is_fred2• 4 years ago

If your goal is to cut costs and you have no net reduction in HC - then you've failed. What did you want them to do - besides not wanting them to cut costs. It's an even worse look to get rid of 20k people and have 25k openings after.

jethro_tell2• 4 years ago

Maybe you have features that can be built somewhere like aws where you have already sold it to a customer and you just don't have the devs. And you know you're going to cut from a part of the company where there is no expectation that the features from the devs will increase revenue. Tuning up the Alexa weather app isn't likely to get more customers but and aws database offering that some other fortune 500 is asking for might be revenue positive a couple months after release.

There more to it than the total cost of devs it matters what people are working on and if the products will produce revenue.

angelbar• 4 years ago

Or until morale improves... :-)

JCM9• 4 years ago

So basically Amazon is trimming some bloated teams and re-assessing business units with poor financial performance. I know some people like to paint Amazon in a bad light but given where the economy is heading it would be concerning if a company wasn’t doing these things. Some trying to make this out to be more than it is.

another_devy• 4 years ago

It is more. Amazon gambled the money and fate of these employees hoping growth in covid will stabilise or might even grow. Now the small bubble of online shopping fiesta is coming to an end they are throwing out these employees as a dead weight, while they were the load bearers in high demand

fredestine4• 4 years ago

not really. they remain vague about it. they'd likely waiting for Q4 number to trim ALL teams from all divisions including AWS.

g9yuayon• 4 years ago

Is there any theory on why Amazon decided to spread the cut over months of time instead of planning sufficiently and then having a decisive cut?

zeroonetwothree• 4 years ago

Incompetence?

jetpks• 4 years ago

To maximize morale pain so more people leave without having to pay them severance. If you knew you were at risk of being laid off sometime in the next few months, wouldn't you start looking now?

Wowfunhappy• 4 years ago

But doesn't this also mean you're more likely to loose your best employees (who can more easily find a job elsewhere) and retain your worst ones (who'll consider an unpleasant Amazon better than any alternative)?

alach11• 4 years ago

This risks the dead sea effect though.

https://medium.com/geekculture/the-dead-sea-effect-d71df1372...

ren_engineer• 4 years ago

squeeze maximum efficiency out of people who are going to work even harder hoping to save their job only to get laid off anyway

snake_doc• 4 years ago

It’s a cost-minimization strategy. I’m sure one of the 300+ economists at AMZN had to write a 6-pager on this question.

Layoffs are labor level reductions amid ongoing or expected periods of excess labor capacity. It’s almost a classic supply chain/operations management problem. Classically an Amazon core competence and problem at Amazon [1].

There are both shortage and excess costs to labor levels (ie. labor inventory) vs labor demand, combined consider as a supply-demand mismatch cost. To minimize this cost is to create a perfectly coordinated supply chain/inventory system through minimizing shortages and excesses.

Statistically speaking, it is incredibly difficult for a company to perfectly return to that optimal level of supply in 1 single action because the optimal level is difficult to measure in the short run. Therefore, by monitoring supply and demand of labor over time, you are able to make more precise adjustments to return to optimal level of labor.

Sadly, this strategy implies Amazon likely used a lower percentile estimate of required labor reductions for initial layoffs, meaning the mean/median estimate of required labor reductions is likely higher than already announced.

[1] https://www.vox.com/recode/23170900/leaked-amazon-memo-wareh...

newsclues• 4 years ago

I think Amazon is being honest and the rest of the industry will also being doing future lay offs.

I don't understand how everyone can do this at the same time and it's not connected and planned.

iceburgcrm4• 4 years ago

It is connected. Biden asked wall street / fortune 500 companies to freeze / slow hiring / wage increases. This is part of a larger plan.. When the new prime minister of England presented a budget with a taxcut she was shortly shown the door.

mandeepj2• 4 years ago

don't understand how everyone can do this at the same time and it's not connected and planned.

Oh! It’s very much connected like this https://www.vanityfair.com/news/business/2014/04/apple-googl...

yogthos5• 4 years ago

Ah yes, the guys who makes 6,474 times the median Amazon employee’s salary is going to lay off a bunch of people doing actual work to cut costs.

https://fortune.com/2022/06/02/fortune-500-amazon-ceo-andy-j...

Andy's package is so excessive that even the advisory board objects to it

https://www.businessinsider.com/amazon-ceo-andy-jassy-salary...

jrib• 4 years ago

In 2021, Jassy received $212,701,169 in total compensation, Insider reported in April, citing a proxy filing the company submitted. Only $175,000 of that came from his salary. The rest came from shares: He was awarded 61,000 shares that would vest over 10 years, worth $211,933,520, when he became CEO.

HDThoreaun• 4 years ago

Don't worry, the vest is back loaded and he'll get pip'd before that kicks in

gruez• 4 years ago

He was awarded 61,000 shares that would vest over 10 years, worth $211,933,520, when he became CEO.

How did they get $211,933,520? 61,000 shares multiplied by the price at the time (eyeballing the chart, the 2021 price looks to be around $160) gets you $9,760,000.

mrep3• 4 years ago

So 21 million a year. Levels.fyi has an SDE III at 355k a year [0] and a level above that at 538k which is usually what most pure IC managers are at. That's a 57% comp for moving up one level moving. 21,000,000/350,000 = 60x. If they have say 8 managers between IC and CEO, thats 60^(1/9) = 57.6% comp growth per level.

Doesn't seem so ridiculous of a compensation if you want to keep the carrot above the stick at each level of the management chain.

[0] https://www.levels.fyi/companies/amazon/salaries/software-en...

chrisbolt• 4 years ago

Why does it count as 2021 total comp if it doesn't fully vest until 2031?

tonymet2• 4 years ago

He generated practically all of Amazon's earnings over the past 15 years . When amazon retail was burning cash, AWS was generating high margins keeping the company alive.

Andy Jasy is under-compensated IMO. He should be getting half of Bezos' shares.

yogthos5• 4 years ago

some people on this site have brains as smooth as bowling balls

missedthecue2• 4 years ago

Andy Jassey will make a lot of money as CEO of Amazon, but you're taking a long term stock comp vesting plan based on performance based incentives and comparing it to the annual salary of a workforce skewed by hourly paid warehouse workers.

Andy Jassey's salary is $175,000

dymk• 4 years ago

We all know that CEOs get most of their comp in equity. It’s not a gotcha. It’s insanely high still, for a company laying off thousands of people.

Retric8• 4 years ago

That’s a pure tax dodge. His actual compensation is vastly above 175,000$ but by structuring it differently they can vastly reduce the taxes paid.

fdsafdsafdasf• 4 years ago

I don't think you know much about Andy Jassy if you are saying that he has not done actual work.

rufus_foreman2• 4 years ago

> Ah yes, the guys who makes 6,474 times the median Amazon employee’s salary is going to lay off a bunch of people doing actual work to cut costs

Yeah. That's what I would do too if I was the CEO of Amazon.

What would you do differently?

yogthos5• 4 years ago

here's an example of what can be done differently https://www.gamedeveloper.com/business/nintendo-management-t...

cercatrova2• 4 years ago

Layoffs will continue until morale improves.

plasticchris4• 4 years ago

Not quite: Layoffs will continue until the stock price recovers.

cercatrova2• 4 years ago

This is a reference to the common saying "Beatings will continue until morale improves" and indeed a variation of it includes my version above, apparently said satirically in 1964.

https://quoteinvestigator.com/2020/07/15/morale/

Kukumber3• 4 years ago

Money wasted on useless "software" jobs

This shift was long overdue, hopefully we'll start to see meaningful projects that moves humanity forward from now on, economy of the self has to go

I doubt that'll come from amazon, but the signal is loud and clear

yrgulation5• 4 years ago

Actually tech was a good example of an industry that distributes wealth around. Without high salaries that money would have sat idle in big pockets. I imagine a ton of gardeners, mechanics, restaurant workers, travel industry workers, will be affected by revenue lost from software engineers not working or not being paid what some people think is a high remuneration.

Anyway not to worry. Software is complex. If the industry is not paying well then it will be difficult to attract smart people to deal with all that complexity. Lower pay, less smart people, less competitiveness, less revenue for us companies. Simple as.

Kukumber3• 4 years ago

Inflated salary in tech jobs = inflated real estate price = struggling lower middle class, go visit SF

But that wasn't even the point i was trying to make, merit is no longer rewarded since the expectation for a high salary is the baseline, hence it's not usual to see high burn rate in big corporations and highly valued startups, inflating everything up to the point where nobody can compete anymore unless you go hire in india/asia with the problems that comes with it (socioeconomics)

Check the various hiring posts from YC, it's telling

then it will be difficult to attract smart people

That's a documented bullshit, with a high salary you don't attract "smart" people, you attract people attracted to the money

Look, a "smart people" contacted him to offer his help for bare minimum compensation; that defeats your point

bmitc4• 4 years ago

I imagine a ton of gardeners, mechanics, restaurant workers, travel industry workers, will be affected by revenue lost from software engineers not working or not being paid what some people think is a high remuneration.

Trickle-down economics? That’s not exactly a bolstered argument.

wolverine876• 4 years ago

SV businesses used to show off their innovation, intelligence, and eternal optimism. They used to think different and change the world with revolutionary ideas, including in employment.

Now they show off their aggressiveness, power, ego, and disdain for all else - the world, employees, human beings. Now they invest in real estate and cryptocurrency, and flex by laying off employees and working them harder. What innovators.

They've become dinosaurs. Who are the next innovators? Who has optimism, vision, and drive?

whatever1• 4 years ago

Of course they would not fire their retail people during the cash making season. Make them work hard, post your B's of profits and then promote them to customers.

kshacker• 4 years ago

"promote to customer" seems cut and paste from our internal blind :)

thwayunion2• 4 years ago

The denial rate for H1B visas dropped from 24% to 4%. This precipitous drop in denial rates was almost immediately followed by some of the largest layoffs in tech history. My belief is that the BigCos are using layoffs to constructively abuse the H1B visa program (and, more importantly, abuse terrified H1B workers).

I'm fairly involved in politics and try to contribute in large enough ways to at least be a known entity to campaign managers. If you're the same, now is the time to continue your civic engagement. I'm fairly confident DoL will be watching BigTech labor practices like a hawk, looking for both intentional domestic labor displacement and also abuse of H1B workers. I will not be surprised if Amazon is at the center of intense executive and legislative scrutiny for the next two years as a result of massive H1B allocations immediately followed by massive layoffs.

If you are an H1B worker being asked to work excessive hours or take on new responsibilities, reach out to DoL (NOT USCIS). If you are a manager/director privy to conversations about labor force reduction and H1B status is mentioned, reach out to DoL. Better to be the whistle blower than mentioned by name in a deposition.

refurb2• 4 years ago

I cant speak for the crummy employers, but my employer was very sensitive to immigration status. They were willing to push H1B holders out to the very last wave of separations to buy them as much time as possible to find a new role.

But yeah, crappy employers are out there, so any H1B holder should educate themselves on their rights and the employers obligations during layoffs.

azinman2• 4 years ago

I thought H1B abusers were people like Accenture and not Amazon. Consulting where it’s about bodies; the big co’s need talent in whatever form they can get and tend to pay well for it. It’s hard to imagine to me that Amazon is laying off just to get people more cheaply.. they can easily just pay less or hire more abroad.

thwayunion2• 4 years ago

They could, but why? The big cos colluded for years on wage fixing [1]. Amazon absolutely churns through SWEs; the average tenure in engineering roles is a year or two.

[1] https://www.iphoneincanada.ca/news/apple-google-tech-compani...

adave3• 4 years ago

you thought wrong, they hire managers from these companies and essentially work the same way.

egourlao• 4 years ago

Has the denial rate for all companies gone down? Or could it be that companies that were getting the most denials have submitted less petitions for H-1B workers?

Sponsoring an employee on an H-1B has become significantly harder in the past few years, especially because of the odds of the lottery decreasing year over year. Another theory could just be that with the increased cost and uncertainty of attempting to sponsor an employee on an H-1B, many companies are resorting to alternatives, clearing the field for companies that have a more genuine need for H-1B workers.

vsskanth2• 4 years ago

They are not related. H1B Denial rate went down because of administration change. Layoffs are due to fed tightening to combat inflation.

P_I_Staker2• 4 years ago

Hmm, yeah I could see that having some broad support, but we'll see. Don't forget: big company, big lobbyists.

mensetmanusman• 4 years ago

If you are unsure whether you will be fired, just assume you will and consider this time as a paid job search.

yrgulation5• 4 years ago

People returning to mandatory onsite means less disposable income and less free time. Naturally, online content and e-commerce revenue would be severely impacted.

qbasic_forever• 4 years ago

Wow isn't the conventional wisdom cut once and cut deep? The morale hit for nonstop drip of layoffs is immense. I can't help but think Amazon is going to really destroy their reputation as a place for technical people to excel.

bmitc4• 4 years ago

It’s hard to know where that reputation comes from other than themselves and their hiring process. Nearly everything Amazon makes is a shoddy product that scales in a way such that it doesn’t matter to them. They don’t excel at anything they do except scale with acceptable (to them) failure rates.

Rallen89• 4 years ago

no matter how big of a hater u ar of amazon you can't deny what they have going is really impressive, sure aspects are bad but still impressive

johndfsgdgdfg• 4 years ago

What does it tell about our economy when a value creating company has to declare layoffs whereas the ad-companies are still untouched?

okdood64• 4 years ago

I can only think of one one major tech ad company that's _so far_ untouched.

__derek__• 4 years ago

FYI: Amazon has a large and growing ads business. It's actually one of the bright spots at the company.

mandeepj2• 4 years ago

I don’t think Andy’s up for the job:

1. Amazon lost $1T of valuation during his tenure

2. Continued hiring aggressively even until last month

3. Failed at most important skill of a CEO - Communication

P_I_Staker2• 4 years ago

Classic Amazon. Guessing due to the scary nature of them, they hope to motivate their workforce, and push back against all this work reform stuff.

Amazon CEO Andy Jassy says layoffs will continue into next year

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