Amazon Is The First Company Ever to Lose $1 Trillion in Value — CEO is leading a cost-cutting review

By Andrew Blok - November 12, 2022

 

Amazon eyes devices group as it undertakes broad cost cutting
By Brian Heater @bheater - November 11, 2022

 

I worked for a company that lost $350 Billion in market cap. It never recovered, Amazon will.

 

I don't know why this whole market valution is such a big deal. Well perhaps only when a company is a takeover target it is. What's more important is if a company still has a decent revenue and profit. A stockprice is sadly enough not always a good reflection of the health of a company.

What I've learned this year on the stock market both in the US and Europe, is that growth is quite important. I lost a lot of money on companies like Roku and Zoom Video because their growth is stagnating. However, they still make quite a lot of money and aren't going bankrupt anytime soon. Still their stocks tanked 70% or so.

 

Amazon reportedly plans sweeping layoffs that could affect thousands of employees
By Igor Bonifacic @igorbonifacic - November 14, 2022

 

Amazon starts cutting jobs through Alexa and Luna cloud gaming divisions
By Ben Schoon @NexusBen - November 16, 2022

 

Maybe Jeff Bozos should put some money back into his company rather than buying the world's largest yacht.

 

That and funding his own space project.

 

Amazon is looking to trim head count through a voluntary buyout program
November 16, 2022 (Updated: November 17, 2022)

 

The worst thing about this, is that Bezos claims that he's investing into space to make earth a better place in the future. He's talking about moving the polluting industries from earth to space, what a joke. How about building affordable homes and feeding all of the hungry people in the world. And not to forget, better working conditions for Amazon employees. Simply raising minimum wages isn't good enough.

 

Definitely.

 

I thought he just wanted to move all of us to space.
Jeff Bezos foresees a trillion people living in millions of space colonies. Here's what he's doing to get the ball rolling. (nbcnews.com)

 

I think Bezos should move to space.

 

Amazon CEO Andy Jassy says layoffs will continue into next year
By Annie Palmer @annierpalmer - November 17, 2022

Amazon: A note from CEO Andy Jassy about role eliminations

 

Holy crap, this guy is just as insane as Musk and Zuckerberg. Is it perhaps a side effect of having billions on the bank that sooner or later you will become delusional?

 

It's easy for them to lose touch with the common folks. I'd still like to be able to give it a shot. I am assuming a lot of the losses here are falling stock values but as I have not specifically seen anything in the articles I have read so it is just an assumption.

 

It's not even about losing touch with common folks, I simply think these ideas about living in space, other planets and virtual reality are dumb as hell. It's like the more rich, the greedier and dumber they get.

There are plenty of problems to solve on earth and I believe the 10 richest people on the planet own about $1000 billion, mostly depending on the stock market. But nobody is profiting from it. It just sits on their bank account. And I'm not following you, you would like to give what another shot?

 

Agreed, they could help many and don't. And 1,000 billion is a trillion, they have more than that.
I meant I would like to give a shot at being rich to see if it corrupts me.

 

Came across this on my Twit feed :

https://arstechnica.com/gadgets/202...failure-on-pace-to-lose-10-billion-this-year/

In essence, this is reportedly part-and-parcel of the mass layoffs happening at Amazon now. Seems to contradict what the new CEO was saying acc. to post #14, though.

 

Amazon to shut down its online learning platform in India
By Manish Singh @refsrc - November 23, 2022

 

Amazon is shutting some Fresh and Go stores as the company cuts costs
By Annie Palmer @annierpalmer - February 2, 2023 (Updated: February 3, 2023)