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Amazon Job Cuts Spread To AWS
Ok, let's recap how we got here.
In late April of last year, while unveiling Q1 results, Amazon foreshadowed an overcapacity problem which, by the end of the second quarter, came to plague many of America's largest retailers. CFO Brian Olsavsky suggested the company had too much warehouse space and more workers than it needed, after expanding rapidly in fulfillment to meet voracious demand in the aftermath of the pandemic.
The following quarter (so, while unveiling Q2 results), Andy Jassy said
I think you can kiss the soft landing good-bye