Amazon’s profit margin nears record after CEO Andy Jassy’s dramatic cost-cutting efforts
Jassy, who took the helm in mid-2021, has been laser focused on trimming costs across the company for over a year, eliminating 27,000 jobs since last fall, axing some riskier bets and reshaping Amazon’s fulfillment network to emphasize speed and efficiency.
https://www.cnbc.com/2023/10/26/amazons-profit-margin-nears-record-high-after-ceo-jassys-cost-cuts.html
"I would call it capitalism, but that's just me."
That sounds like a made up word to disguise what is really happening.
A lot of people on the top who are not terribly skilled, useful, or intelligent
are making money off of those who are or taking a much bigger cut than they should.
What were you expecting? Negative cash flow? Jassy laid off and fired a large proportion of his best employees (many more than 27000), then takes a big pat on the back for manipulating the so-called 'record profit'. Now try doing that without RIF'ing your best employees - i.e. like NVidia. Jassy continues constructive dismissals/illegal involuntary silent layoffs. Basically discrimination against remote employees including those who are too far from an Amazon office, and makes them say they "voluntarily resigned", which they didn't. Asking to drive 4 hours/day to an office and upend families? Class action suit?
I would call it capitalism, but that's just me.