Amazon makes job cuts in music division
Amazon is cutting an unspecified number of positions in its music division in the latest layoffs to hit the tech giant as it looks for ways to trim costs.
https://www.geekwire.com/2023/amazon-makes-job-cuts-in-music-division/
And now after facing the MUSIC (80), they're playing GAMES - 180 layoffs today!
Give yourself a pat Andy! You can brag to investors now about your record cash flow pony trick. Next up, Stores!
Jassy's gonna face the MUSIC. Amazon MUSIC!
Going from -$13B to +$20B in free cashflow in less than a year by laying of 27000+ corporate employees, managing out many thousands more by illegal RTO mandates (without severance), and then doing more layoffs is a nice pony trick for investors. What do you think the consequences will be? Amazon stock still hasn't recovered to its level 1.5+ years ago - making their employees (most of whom stay for one year or less before quitting) work on a pay cut.
Rather than naive pony tricks from Jassy/Olsavsky to rapidly inflate free cashflow, why not actually grow weak business units like Stores, AWS (to actually compete with Azure, GCP), and scale Ads? Nvidia has SKYROCKETED without cheap shot naive pony tricks - they actually INNOVATE without harming the livelihoods of their employees (and they're much more heavily rewarded!). Hello????