![]() ![]() ![]() Jassy has responded to the worsening economic outlook and sagging revenue with some cost-cutting measures, including this week’s round of layoffs. Shares of Amazon and other Big Tech giants have steadily sold off as a series of Federal Reserve interest rate hikes sparked fears of an economic downturn. Education Imagesīut Bezos’ net worth has plummeted alongside Amazon’s valuation over the last year as a severe downturn hit the tech sector. Amazon plans to lay off more than 18,000 workers. The Amazon founder currently ranks as the world’s fifth-richest person, with an estimated net worth of $109.4 billion, according to Forbes. “He should come…he is the best,” another worker said in reference to Bezos.Ī colleague responded with a screenshot that said “The Return of The King,” while another shared a picture of Bezos with the caption “miss me yet?”īezos ceded the role of CEO to Jassy in 2021, though he still serves as Amazon’s executive chairman. Jeff Bezos is the world’s fifth-richest man. “Apparently not even Andy is safe,” one employee reportedly wrote alongside a link to Batnick’s interview with CNBC discussing why he felt a Bezos homecoming was possible. Screenshots of the messages were obtained by Insider. In a recent blog post, Michael Batnick, a managing partner of Ritholtz Wealth Management, suggested Bezos could “pull a Bob Iger” this year and return to stabilize the company he founded.Įmployees reportedly discussed the possibility on an internal message board dedicated to the subject of layoffs on Thursday – the same day that Jassy cited economic uncertainty while detailing plans to slash more than 18,000 jobs early this year. Speculation that Bezos could seek to supplant Jassy as CEO has increased during a sustained downturn in Amazon’s stock price. Stand while you work with these top-rated standing desksĪmazon employees openly welcomed a potential comeback by Jeff Bezos to run the struggling e-retail giant after current CEO Andy Jassy announced a larger-than-expected wave of layoffs, according to a report Friday. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.Whole Foods cuts hundreds of corporate jobs: Employee memoĮlon Musk launches new artificial intelligence company X.AI to challenge OpenAIĪmazon CEO Andy Jassy took pay cut in 2022, plans to invest in AI You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. ![]() Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. ![]()
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