Not catastrophic, but probably a sign that jobs are shrinking instead of growing and so good market information if you were thinking about getting promoted or moving around?
Numbers do not support that. Jobs might be shrinking within Amazon, but globally the situation is the opposite.
Population is still growing, 25% the last 20 years (trend that is slowly reversing), and unemployment rates are the lowest at global scale (~4,9% for 2024, lowest historically, down from 6.0% in 2005).
That's around ~1.0 billion more jobs in 2024 compared to 2005.
Most jobs are not interchangeable, especially globally.
What good does it do me if India creates 30k new teller positions in supermarkets? Also, even in the US, they use things like gig work to make the numbers look better. Sure, some jobs were created while others were lost, but taking on Doordash in addition to Uber is no replacement for a lost management / marketing / sales position at Amazon.
Rather, a correction for over hiring during periods of low-interest rates and excessive money printed which promoted & rewarded hiring just to be compretitive
> correction for over hiring during periods of low-interest rates
It's been three years since that though, and five years since covid. That's why we say "AI" now. Just make sure you don't say "executive incompetence".
I don't think it's incompetence, I think it's planned, merciless strategy. It costs nearly nothing to fire a ton of people, so why not hire a bunch with free money and dump them as soon as the free money disappears
Yeah pretty much. This is just late stage capitalism, and the working class seem to just be shrugging at it instead of what theyr forefathers did in reaction.
