Amazon Largest Layoffs in History of 30,000 Employees -- Trumps Depression is Beginning
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Amazon Layoffs Signal Economic Shift Beyond Tech Bull Market
Learn why history shows that recessions impact even highly qualified professionals, giving you tactical foresight against sudden job market disruption.
Short Summary
- Amazon plans massive 30,000 corporate layoffs amidst a static job market, demonstrating a broad industry contraction.
- The current generation of tech workers often lacks experience in severe economic downturns following the 2009 Great Recession.
- Historical evidence shows previous high credentials (like MCSE) offered little immediate protection when the market froze post-.com bust.
- Prepare now by cutting back personal spending, as the speaker predicts economic conditions may surpass the Great Recession for many.
Eli warns that current economic struggles are driven by unavoidable math, predicting conditions potentially worse than the Great Recession for those unprepared. This episode uses Amazon's necessary corporate cuts as stark evidence that highly credentialed employees, who matured during a long tech bull market, are now highly vulnerable. Understand the historical parallels between this tech sector contraction and past industrial failures affecting major cities.
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Top Comments (10)
This is why they're trying to feed millions of men into a meat grinding new war.
The elected officials in the government are doing their job. They just don't work for us, they work for their paymasters.
This is why Amazon hates Union. They can lay off anyone instantly.
AT&T was at 280k employees in 2018. Since then there have been layoffs twice a year. Now they are at 140k employees with a goal to get down to 70k. that’s a 75% reduction in workforce. brutal
This reminds me of the Soviet Union of the 1980s. Things were just falling apart and there was no real explanation as to exactly why. The economic system being all wrong? But it had worked for decades and gave us a pretty decent standard of living. In the late 80s, ordinary people were the same as before - going to work every day, working hard, saving money. Looking back, the level of education and technological development that we had was amazing. But still, the economy began to fail in weird ways. One can always point at this or that as being THE REASON WHY. There's no 'why'. Or, rather, the whole system was rotten at so many levels that normal, law-abiding, hardworking citizens could do nothing to correct it. I'd say that the moral failure of the elites was one of the biggest reasons why the country couldn't be saved. Cynicism, avarice, nepotism. Just pure GREED. For some, nothing was ever enough. The price has been staggering. I hope nothing like this ever happens to the US or anyone else. Too many lives lost, too many people still suffering.
I was just graduating in 2007, top 5 engineering school in the US. Of the 100+ people graduating with me in my program in a "hot" field -> two had job offers. I quit a masters program in a top 5 school to start a 48K a year job -> because I couldn't afford to wait. It gets bad during a recession, real bad.
I was in the workforce in 2001 so I have gotten to see all the bad sides of the market. It’s been surreal to see all the people I work with that never experienced any of that suddenly realizing that they should be less upset about how much taxes they pay on a 200k salary and be grateful they get to pay more than I was making in 2009. Long said no to lifestyle inflation and this is why.
"I need your resume to make sure that your last job as an IT technician qualifies you to be able to both drive a car AND handle pizza..."
Love your take ELI. You are spot on.
Rough times :(. I feel for the people affected by the layoffs. Real life changing event.
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Top Comments (10)
This is why they're trying to feed millions of men into a meat grinding new war.
The elected officials in the government are doing their job. They just don't work for us, they work for their paymasters.
This is why Amazon hates Union. They can lay off anyone instantly.
AT&T was at 280k employees in 2018. Since then there have been layoffs twice a year. Now they are at 140k employees with a goal to get down to 70k. that’s a 75% reduction in workforce. brutal
This reminds me of the Soviet Union of the 1980s. Things were just falling apart and there was no real explanation as to exactly why. The economic system being all wrong? But it had worked for decades and gave us a pretty decent standard of living. In the late 80s, ordinary people were the same as before - going to work every day, working hard, saving money. Looking back, the level of education and technological development that we had was amazing. But still, the economy began to fail in weird ways. One can always point at this or that as being THE REASON WHY. There's no 'why'. Or, rather, the whole system was rotten at so many levels that normal, law-abiding, hardworking citizens could do nothing to correct it. I'd say that the moral failure of the elites was one of the biggest reasons why the country couldn't be saved. Cynicism, avarice, nepotism. Just pure GREED. For some, nothing was ever enough. The price has been staggering. I hope nothing like this ever happens to the US or anyone else. Too many lives lost, too many people still suffering.
I was just graduating in 2007, top 5 engineering school in the US. Of the 100+ people graduating with me in my program in a "hot" field -> two had job offers. I quit a masters program in a top 5 school to start a 48K a year job -> because I couldn't afford to wait. It gets bad during a recession, real bad.
I was in the workforce in 2001 so I have gotten to see all the bad sides of the market. It’s been surreal to see all the people I work with that never experienced any of that suddenly realizing that they should be less upset about how much taxes they pay on a 200k salary and be grateful they get to pay more than I was making in 2009. Long said no to lifestyle inflation and this is why.
"I need your resume to make sure that your last job as an IT technician qualifies you to be able to both drive a car AND handle pizza..."
Love your take ELI. You are spot on.
Rough times :(. I feel for the people affected by the layoffs. Real life changing event.