Amazon Job Cuts & How to Build a Recession-Proof Business
Market Mondays
EYL Network
5.0 • 4.1K Ratings
🗓️ 17 November 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
In this in-depth clip, we delve into the recent news of job cuts at Amazon and what it signifies for the broader economic landscape. We'll explore the implications for the workforce and the tech industry as a whole. More importantly, for entrepreneurs and business owners, we provide valuable insights on how to fortify your business against economic downturns.
Discover the keys to building a business that can withstand the challenges of a recession, from diversifying income streams to enhancing operational efficiency. Whether you're a startup owner, a seasoned entrepreneur, or an employee aiming to understand the market better, this video will equip you with the knowledge to navigate through uncertain economic times.
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💡 Understand the economic indicators leading to job cuts.
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Transcript
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| 0:00.0 | Shop Amazon for last minute gifts. |
| 0:02.5 | Great deals for everyone on your list. |
| 0:05.0 | Gifts for mom and gifts for dad, |
| 0:07.5 | even for your sister and your brother, Chad. |
| 0:10.0 | Ah, shoot, we didn't realize we were supposed to get a gift for our dog walker guy. |
| 0:14.8 | We almost forgot about our dentist, Dr. Kerr. We didn't expect to get a gift from her. |
| 0:19.7 | Or our cousin, I forget his name. he got us something nice, better reciprocate. |
| 0:24.8 | For the last minute deals I'll give some people you forgot. |
| 0:27.1 | Get past and free shipping at Amazon. |
| 0:30.3 | Amazon job cuts, job cuts finally hit profitability after cutting 27,000 employees. |
| 0:38.0 | So is this a step in the right direction for the company? |
| 0:42.0 | Unfortunately... right direction for the company? Unfortunately, yes. |
| 0:45.0 | I'm glad you got with that word. |
| 0:47.0 | I'm glad you start with that. |
| 0:48.0 | Unfortunately, my go double screen hand, Mike. |
| 0:50.8 | Yeah, unfortunately, yes. It's not a measure that I think they wanted to take when we talked about it and I talked about this with Stock Club. Their profit margins aren't as high. I think because they had such a stranglehold on market share like when I think |
| 1:05.0 | of such a stranglehold on market share like when I think of shopping I think Amazon first |
| 1:07.0 | then if it's food related I go oobreats right |
| 1:10.0 | shoddy I don't win the same tribe when it comes to that. But what they didn't focus on enough was getting a profit margin up so they didn't have to do this. I think Amazon, like Apple, needs a little bit more innovation, but the thing that is saved Apple is the wide margins that they have on a hardware business and |
| 1:26.8 | their illegal mob when it comes to getting the 30% |
| 1:30.0 | out of every company in the App Store. |
| 1:35.8 | So it is a step in the right direction. I don't like companies that cut jobs first |
... |
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