Hi HODLers,
Everyone is edgy in this beginning of 2023. Bulls are looking at interest rates and the FED to give them a boost. Bears are expecting the economy to get much worse and layoffs to increase.
Who will be rght? I do not know.
Amazon had announced in November 2022, that it was planning to cut 10,000 jobs but the latest figure shows they are expecting 18,000 job cuts.
As they are stating:
Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and PXT organizations.
I also read that a lot of these were in the HQ and Human Resources department. It makes sense as if you freeze hires, you do not need so many recruiters :D.
Thanks to the article sourced below I found this website: Layoffs Tracker
It gives a good overview of the latest layoffs news. The latest news about Amazon is not so important as it is just an updated number and represents only c.1% of total headcount.
Keep paying attention to datas to refine your view
To be a good investor, one needs to consistently update his assumptions and views to make good decisions.
Jobs are one of the datas to watch as well as bankruptcy, industrial activity numbers, interest rates...
Stay safe and fasten your seatbelt, I do expect a tough first semester.