Jeff Bezos is the founder, executive chairman, and former president and CEO of Amazon with net worth of $108 billion on the index as per Bloomberg Billionaire Index and is sixth richest man in the world. according to recent reports, Jeff Bezos loses over $600 million in a day.
Amazon stock prices has also declined over few days as the news of amazon to lay off 18,000 employees goes viral. This has affected the net worth of Jeff Bezos as well. According to Bloomberg Billionaires Index Jeff Bezos lost around $949M (year till date) which is around $1 billion in a day after amazon announced to fire 18,000 employees. Amazon earlier has also laid off around 10,000 employees in November 2022. The company laid off employees because of hiring extra staff in the pandemic of COVID-19. Amazon was also among one of those tech companies who laid off their staff because of unwanted economy. Amazon also did offered voluntarily reduction for some of the employees.
Another round of lay off
Recently CEO of Amazon Andy Jassy announced on a blog post that Amazon will be experiencing another round of layoffs this January and around 18,000 will be affected by this layoff globally. This is the highest no. of layoff’s that Amazon has ever experienced. Andy Jassy announced in the post that laying off was part of their annual planning for 2023 because of the uncertain economy they have hired over last several years. however, majority of employees that will be affected by the decision will include employees from Amazon stores and PXT organizations. He also said that one of their teammates leaked the information externally, Andy Jassy also showed his concern for the affected employees and ensued them to provide necessary facilities such as health insurance, support for external jobs etc.
History of Amazon
Jeff Bezos holds a degree in electrical in electrical engineering and computer science. He worked on wall street from 1986 to 1994. Bezos found Amazon in late 1994, the company began as an online bookstore and has since expanded to a variety of other e-commerce products and services. Amazon has evolved rapidly over years and is one of the world’s largest e- commerce platform. It has expanded into a multitude of product categories. It has multiple subsidiaries including Amazon Web Services, Zoox, Kuiper systems etc. The company has never failed to satisfy its customers and it has built considerable trust of customers over years. Amazon has been referred as ‘one of the most influential economic and cultural forces in the world and is one of the world’s most valuable brands.