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Amazon Finally Almost Fulfills my Prediction of Doom: 17,000 Layoffs Incoming

Way, way, back in ancient history, July 4, 2022 to be precise, yours truly predicted the following:

3. After the July 12-13 Prime Day on Amazon flops again, AMZN begins reviewing the number of employees and its distribution center structure. The hints are already being dropped as this story highlights:

Amazon cancels or delays plans for at least 16 warehouses this year

At some point in mid-August, Amazon announces over 20,000 layoffs and the closure of smaller, less efficient distribution centers throughout the country. To offset a surge in gas and diesel prices, Amazon also announces a larger fuel surcharge to all orders under $500 regardless of Prime membership status.

Of course, I forgot about the mid-term elections, failed to take into account the political affiliation of their management team, and missed it by that much.

Tonight, the prediction is almost complete as per Marketwatch the non-recession recession might have already started:

Amazon to lay off more than 17,000 workers, more than originally expected

But, but, but, Senile Joe said the “economy” is strong and there is no way we enter a recession. Retail sales in the next 3 months will tell the truth and display the doom about to hit after 12 months of Bidenflation.

From the article, I present this brief excerpt:

The Seattle-based company in November said that it was beginning layoffs among its corporate workforce, with cuts concentrated on its devices business, recruiting and retail operations. At the time, the company expected the cuts would total about 10,000 people, but a person with knowledge of the issue said the number could change, The Wall Street Journal reported. Thousands of those cuts began last year.

The rest of the cuts will bring the total number of layoffs to more than 17,000 and will be made over the coming weeks, some of the people said. As of September, Amazon employed 1.5 million people, with a large percentage of them in its warehouses. The layoffs are concentrated in the company’s corporate ranks, some of the people said.

Thus the doom cycle is starting. I shall make another prediction now:

Amazon will end up laying off over 50,000 employees by the end of this year and liquidate or lease out at least 20% of its current real estate holdings.

Buckle up, the non-recession, recession, depression is starting.

And Jay Powell heartily approves of this message.

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