Amazon Expects more Layoffs in 2023
CFOs across regions and industries are staying up at night worrying about their strategies entering 2023. If the economy picks up and they are not making the right bets, they could be left behind by the competition. On the other hand, if we enter a recession they could be caught flat-footed without the right level of preparation.
There are just too many unknowns. What will happen to consumer confidence, inflation, and a recession, and will geopolitical risks return to normal or expand?
By the nature of their operation and their ability to capture and analyze market data and trends, some companies can provide us with a path. Few companies have access to market information like Amazon. We can imagine Amazon’s FP&A team is a top-caliber unit that is constantly performing dynamic and strategic analysis to advise their business leaders on decision-making. Don’t forget it was the effort of Amazon’s FP&A team and their analysis that led to the creation of Amazon Prime.
In a recent article, it was reported that Andy Jassy, Amazon’s CEO, has shared a memo with his employees to expect more job cuts in 2023. If Amazon has made this decision for 2023, other companies should take notice.