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Earn Your Leisure

Professional Development: The Four-Day Workweek & The Future for American Workers

Earn Your Leisure

EYL Network

Education, Entrepreneurship, News, Business News, Investing, Careers, Business

4.87.8K Ratings

🗓️ 1 April 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

In this Professional Development we discuss Amazon's layoffs bringing the total to 27,000, and will this impact the delivery and services, and the 4 day work week and how companies can be more efficient.


#earnyourleisure #amazon #layoffs



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Transcript

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0:00.0

Amazon. Let's start here before we get to the bank situation. Amazon to lay off 9,000 more workers,

0:09.9

which brings the total to 27,000 people. How do we feel about this? What does this say about the

0:17.9

economy? What does it say about the tech sector? What does it say? I'll just say the first thing,

0:25.5

and it goes back to when we talked about it in December, when they laid off 18,000 people,

0:30.4

and we saw a meta-do it, and we were not 18,000, when we saw them do 11, and we saw Google,

0:34.4

and we saw Microsoft do it. These are the effects of the pandemic. When we talk about a lot of

0:41.7

tech companies, how would they go into respond to the overwhelming demand on their product? Well,

0:47.6

the response was to hire more people. When people have changed the way that they go about business,

0:52.8

the way they go about lifestyle, the way they go about spending, there's going to be a change in

0:57.7

your business, and the change just happened to be, especially for Amazon, that people are going

1:02.1

back outside in their shop, and people still use Amazon, but there's an alternative to how they

1:06.8

once were only shopping. This is pretty interesting. Between Q4 2019 and Q3 2022,

1:17.8

their head count increased by 93%. That's nearly almost 100%. More people worked during that time

1:29.0

than they originally planned. Even if you were creating a hiring board in 2019, going to 2020,

1:35.7

you could have never imagined that this would be the increase of hires. What comes on the

1:40.6

inverse of that when there needs to be cutbacks, some people are going to lose their jobs. It's

1:44.8

unfortunate that count is like 27,000. This round of cuts is expected to impact the cloud computing,

1:50.6

advertising, human resources, and Twitch units. A lot of gaming, cloud computing. It's unfortunate,

1:58.5

because these 27,000, I know it feels like it's a number, but these are actually people,

2:03.2

these people have families, and these people have bills, and it's unfortunate. This is part of

2:07.2

the economy. This is what comes with growth over hiring. There are going to be layoffs and cutbacks.

2:14.3

Again, it's unfortunate. I don't think this is the end, because we're still trying to figure out,

...

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