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Wonder why they had the losses? Must have been on the AWS side.
Probably on the expenses side. Waaaaaaaaay too much hiring, and leasing of everything from planes to warehousing to semis.
Probably on the expenses side.
Misc says
Probably on the expenses side.
True, Amazon over hired, over bought, and over extended themselves. So now they can keep expenses low and not as buy as much capital like delivery vehicles, etc. I suspect it is in cycles so they will likely will be very budget conscious for at least the next 3 years.
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Just got a new job after working at the worst place I've ever been at. Seriously, they were involved in everything from not paying employees on time, to federal tax fraud, to Medicare fraud, and I'm not even getting into how shitty the work environment was. 6% raise, and it was tough to get. Interview process took a month. It's not dotcom bust bad, but roughest I've ever seen it, and I've been in the industry for over 10 years.
Making bank?
Congrats on new job.
I upskilled with MIT data scientist cert ( python, ML, deep learning, data analysis n visualization) few months back. Trying to break into it but no one is calling. They over hired n hyped up data scientist. I am willing to do part time or internship but don't see much out there.
If you have cloud engineering skills you can still land well paid jobs, esp. if you can be dev, ops and db admin in one. Serverless is great tech
After a decade of exuberance, Silicon Valley start-ups, venture capitalists and established tech companies alike are cutting investment and firing workers, prompting some in the tech world to openly predict a U.S. recession is on the way.
Facebook and Amazon have slowed their frantic hiring paces, while highflying newer companies including scooter company Bird and email client Superhuman have laid off workers. Tesla chief executive Elon Musk recently told employees he has a “super bad feeling” about the economy, and venture capital firm Lightspeed Venture Partners warned in a blog post that “the boom times of the last decade are unambiguously over.”
On Thursday, fashion tech company Stitch Fix said it was cutting about 15 percent of salaried positions, or a total of 330 roles, sending its stock price sinking. The people losing their jobs were told that morning, chief executive Elizabeth Spaulding wrote in a memo to employees.