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Tuesday, March 21, 2023

Downsizing 

Amazon's decision to lay off 27,000 employees is a blow to its reputation as a growth company and a recognition that it grew too fast during the pandemic. It was past time for the company to become a mature business growing with the overall market and shrinking when the economy turns down.  The company has had a good and long run, topping out at 1.6 million employees.  It functioned as its own force buoying the job market and helping keep national unemployment statistics down.  It is still a large presence but not as much as before.  The company now has a challenge of communicating to the public of just what it is and plans to become.  It will be interesting to watch.   


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