November 30, 2022

Jeff Bezos said people should hold off on big purchases like new cars and TVs during an economic downturn. Recession hits, stop buying TV-cars… Jeff Bezos advises

Bezos, the founder of Amazon and Blue Origin, said that in the current times, small companies should avoid big spending or big acquisitions. According to him, major companies in the world are currently going through the pressure of recession, especially technology companies.

Jeff Bezos gave great advice to the world. They themselves are the largest in the world Online market Even so, he advises that people should avoid buying expensive things right now, because recession knocked In conversation with the American TV channel CNN Jeff Bezos People should stop buying high-priced items like TVs and cars now because the long recession is yet to come, he said.

Jeff Bezos gave another great piece of advice. Bezos, the founder of Amazon and Blue Origin, said at the current time, small companies should avoid spending big or making big acquisitions. According to him, major companies in the world are currently going through the pressure of recession, especially technology companies. Twitter owner Elon Musk has laid off more than half of the company’s employees. On the other hand, Meta has also outsourced 11,000 workers.

Advice from Jeff Bezos

If you look at Amazon’s current state, its assets have fallen by 40% in a year. In the face of this pressure, the company has decided to lay off 10,000 workers. Before this, the company stopped the recruitment from last month. Amazon will not make new hires until economic conditions normalize. In a conversation with CNN, Jeff Bezos said that in this economic uncertainty, any person or organization should have some extra cash on hand. You should avoid taking risks now.

A recession hits the economy

The economy of many countries of the world has deteriorated greatly. Inflation peaks in America, Britain, which raises policy rates to reduce. Its major impact is visible in economic development. According to a report, the UK economy contracted in the quarter ending in September. Analysts have warned that the economy could shrink further in the coming months. Britain’s GDP fell 0.2 percent in the July-September quarter, but the decline was less than expected. But this indicates a long recession. The UK economy shrank by 0.6 percent in September and 0.1 percent in August.

Retrench with difficulty

I don’t see a good situation in America. After the Russia-Ukraine war, most of the EU countries are going through deep recession. Its major impact is visible in employment. This is why the world’s biggest companies are constantly laying off. Facebook parent company Meta has laid off 13 percent of its workforce, or about 11,000. The company’s chief executive officer (CEO) Mark Zuckerberg said in a letter to employees on Wednesday that the decision was made due to declining revenue and the ongoing crisis in the technology industry.

Earlier, after the acquisition of Twitter, billionaire businessman Elon Musk led a large-scale exit of employees. Last week, Twitter laid off nearly 50 percent of its 7,500 employees.

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English News Headline: Jeff Bezos says recession should put off big purchases like new cars and televisions

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