Amazon Freezes Corporate Hiring in Its Retail Business (nytimes.com) 32
Amazon is freezing corporate hiring in its retail business for the rest of the year, according to an internal announcement obtained by The New York Times, making it the latest tech company to pull back amid the economic uncertainty. From a report: The email to recruiters announced that the company was halting hiring for all corporate roles, including technology positions, globally in its Amazon stores business, which covers the company's retail and operations, and accounts for the bulk of Amazon's sales. About 20,000 openings were posted in that division as of Monday evening. The company's cloud computing division, which is much more profitable than its retail business, will not be affected by the freeze. Some roles, such as student hiring and field positions, were exempt from the pause, the email said. The email said recruiters should tell job candidates that Amazon was not in a hiring freeze, though it went on to say all open job requisitions should be closed in the coming days.
Everything is fine! (Score:2)
Just watch over there!
Nothing is wrong!
Trust the computer, citizen!
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Not sure what you mean. Part of the goal of raising interest rates is to address inflation (labor shortage) by cooling off demand
ie causing a recession is the goal.
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Or at least a slowdown. An economy above full employment isn't a healthy one either. Schools, public services, airlines, governments, public transit are all having huge problems hiring. Part of the issue with travel being a shitshow this summer was massive understaffing. Can't even hire janitors and repairmen. Half of the bathrooms in the building where my SO works are broken in one way or another.
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Can't even hire janitors and repairmen. Half of the bathrooms in the building where my SO works are broken in one way or another.
I'm sure there are plenty of repairmen out there that would be happy to fix your SO's broken toilets if the price was right.
If it's really that big of an impossible problem, your SO's company could also look inward and enlist their own staff to fix these things, if they weren't "above that sort of work". The staff might even learn some useful life skills along the way that they could apply back into their own homesteads. I'd be shocked if absolutely no one in that apparently destitute building would volunte
That's not what they're saying (Score:1)
They're not trying to "cool demand" they're trying to lower wages. They're saying that themselves. Right out in the open.
It's weird that so many people are cool with that. Nobody ever thinks it's going to be their heads on the chopping block though.
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If they mess up and we're at 10% unemployment at the
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Harris is elected in 2024.
Blasphemy! ;-)
But also, I really doubt even the most majestic of V shaped recovery could make her any sort of popular. She was an obvious token hire, gets almost no press (let alone 'good press'), and is apparently a horrid boss. More people dislike her than support her even within her own staff, let alone the party. Dems have zero chance if they put her up to lead the ticket.
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There are and will be reasons beyond those two for people in general and party members to not want Harris to be the nominee. One reason will be the same as put forth for Biden. Someone will be seen as the candidate most likely to win, and plenty of people will not see her as this.
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People making too much money while producing too few goods creates problematic inflation. (e.g. mostly empty shelves with people paying over list price for the few available options.)
People making too little money and producing excess goods creates problematic deflation. (e.g. shelves full of goods but all funds go to basic necessities.)
The target position for our economy is mild inflation. i.e. people making good money and producing just enough goods to create demand competition. (e.g. there are goods avai
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The point is that the primary cause of inflation in our system right now is top execs increasing their payouts and corporate profits by jacking up costs, NOT from 99 percent of the labor force which is less of an impact.
If you actually read the board minutes, you can see that.
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It's not that the Fed doesn't understand what they're doing. They are very aware. It's just that they don't work for you and me. They work for their member banks. And it's currently in their members' best interests to create a big ole fucking crash, so they can later buy up assets for pennies on the dollar. Not to mention it brings about the opportunity for Build Back Better and the Great Reset, neither of which can be carried out unless the current system is sufficiently destroyed.
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It's also in the PUBLIC's interest to get some of the hot (counterfeit) money out of the housing markets ... slow down demand from parasitic flippers and normal people in their 30s will once again be able to find a home. Low rates plus white-collar WFH'ers clamoring for quarantine palaces in the 'burbs during COVID really distorted property markets.
Yes, monthly payments will likely be similar with higher rates, but there will be more inventory without flippers buying up hovels with the expectation that pri
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I have not seen house prices go down in decades. Instead, real estate is becoming the domain of international corporations who really don't care if a house or apartment complex is 100% vacant, because the gains from other regions even things out. That, plus turning people into renters and owning nothing is always an income source forever into the future.
All that is happening right now is that individuals are priced out, and investors are coming in. It is going to take laws like what some countries have w
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We need a recession.
We need housing costs to come back to Earth.
We need techbro firms to stop poaching workers from other less glamorous sectors: public service, education, healthcare, pubic transit.
We need to slow down "creative disruption" that's gutting cities by killing brick 'n mortar commerce.
The Fed is doing the right thing -- a slowdown is the only way to approach status quo prior to COVID.
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We saw wages rising for a brief moment among the lower classes. The reaction, of course, is to slam the economy so thoroughly that the lower classes are forced to work for scraps again. Why? So the upper classes don't have to lose any advantage over the lower classes.
I know, the knee-jerk is that this is a simplistic view and doesn't cover the nuance and blah blah blah. Yet, the end-result will be exactly as I described. Hell, the middle class may just be pounded out of oblivion by this "contraction." I sup
Which is the lesser evil? (Score:2)
Yes, lower/middle-class people will get hurt with the fed actions, but they have already been hurt by the last few years with lower real wages and even more so in the last few months with rising inflation. The quandary is deciding which is worse, inflation or lower wages and unemployment. Inflation for those with little discretionary income is tough.
The hope is for inflation to be tamed quickly and for employment and wages to be temporarily hit followed by a quick rebound that hopefully doesn't retrigger
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a slowdown is the only way to approach status quo prior to COVID.
Alternatively, we could guarantee no return of economy-killing Covid restrictions. The way to do that is to vote out Democrats all up and down the ballot.
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a slowdown is the only way to approach status quo prior to COVID.
Alternatively, we could guarantee no return of economy-killing Covid restrictions. The way to do that is to vote out Democrats all up and down the ballot.
And guarantee another million plus dead people above and beyond the normal death rate. People who won't be around to fill jobs or spend money keeping the economy going.
For the record, 400+ people are still dying every day from covid every day. Every week there is another 9/11 attack and it is going on week after week.
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More doomer bullshit. Do you know how many people die of heart attacks each day? Obviously not. If you did, you'd demand fried chicken shops be shut down permanently.
This seems prudent (Score:2)
Continue to invest in the most profitable parts, put retail into "maintenance mode" in advance of economic headwinds, do continue to invest in students... Were I a shareholder, I would be pleased. ...and, apparently I am a shareholder, and I am pleased. I don't manage my portfolio... so I did not actually know.