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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