Jeff Bezos, the head of amazon, has given a sensational warning when the global economic recession is looming. Even if his e-commerce business falls, he made this statement warning people not to fall under the threat of recession. Jeff Bezos' announcement surprised everyone. amazon founder jeff bezos has warned that a recession is looming, giving consumers several tips to cut "costs".
Billionaire Bezos advises consumers to keep their cash safe and avoid unnecessary spending during the holidays. Refrigerators as Bezos fears economic conditions will worsen. Families are advised not to buy big-ticket items like TVs or brand-new cars. Bezos warned everyone, "If you're thinking of buying a big-screen TV, put it off. Keep that cash. See what happens with a recession. A refrigerator, a new car, whatever. Take it a little too late. Things can get worse." Small-business owners are also advised to hold off on new investments and instead conserve their cash reserves.
"Spend on the best.. Don't spend on the worst." Bezos made these key comments. Bezos said he would donate most of his $124 billion in lifetime earnings to fight climate change to support people who can unite humanity across deep social and political divides. He said that he will spend most of it. Bezos is currently the executive chairman of Amazon. Bezos stepped down last year as Andy Jassy took over the CEO reins. Currently the company is being looked after from outside.
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Other tech companies, such as Twitter's MetaLift, have cut staff heavily as they face high interest rates in the US, sluggish consumer spending and a strong dollar overseas. In this sequence, the e-commerce leader amazon also started layoffs. The platform and its various branches laid off around 10,000 employees.
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