Amazon offers some financial guidance to consumers.
Due to the impending recession, Jeff Bezos, the founder of Amazon, has urged people to keep their money secure and refrain from irrational spending. The advice was given as the large e-commerce company fired 10,000 workers, including Indian techies. Now Amazon offers some financial guidance to consumers.
Bezos said in an interview with CNN that people should wait to buy large items like a TV, refrigerator, or car so they won’t have to struggle financially during the current recession.
In the event that our economic troubles worsen, even a modest amount of risk reduction may make a difference for that small firm. You must slightly manipulate the probability, “Bezos said.
“If you’re thinking about getting a big-screen TV, you might want to hold off, save your money, and wait and see what happens. The same is true with new cars, refrigerators, and other appliances. Just take some risk out of the picture “said the late Amazon CEO.
“Things are sluggish. Layoffs are occurring across a wide range of economic sectors, “added Bezos. Bezos stated in the same interview that he would give the vast majority of his $124 billion net worth to organizations that work to combat climate change.
The largest layoffs in Amazon history
The change happened at the same time as Amazon began letting go of workers across the US. As it prepares for an anticipate economic slump. Amazon has join other leading technological companies in mass layoffs, like Meta and Twitter.
10,000 people will allegedly be let go from the e-commerce company’s staff. According to reports, the corporation gave its US workers a two-month window to take the severance money.