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Amazon is suffering major losses for the second quarter in a row.

For the first quarter 2022, it has recorded a net loss of USD 3.8 billion https://edition.cnn.com/2022/04/28/tech/amazon-earnings-loss/index.html and for the second quarter also a net loss of USD 2 billion, which immediately also has a negative impact on the stock market value of its shares.

Amazon ( and along with it the vast majority of the world's press ) twists and turns to explain the losses but the reality is that consumers are turning their backs on the internet giant and shopping in regular shops again. Daily Mail UK is just about the only one that points out how things really are.

https://www.dailymail.co.uk/news/article-11059663/Amazon-posts-2-billion-loss-second-straight-quarter-Apple-profits-fall-8.html

Observers expect losses to continue to pile up in the coming quarters as Amazon sells a very large amount of products from China, there is an increasing delay in deliveries due to lockdowns and... prices on Amazon have risen to the point where it is no longer interesting to buy through this online shop.

Every disadvantage has its advantage. Hurrah for the middle class and local shops.

Amazon, however, is already feeling the pinch and has laid off 100,000 employees while it still sold goods worth USD 121 billion ( yes, you read that right) during the 2nd quarter of 2022, from which it obviously earned handsomely.

So profit comes before employees who have a family to feed and THAT says it all about main shareholder Jeff Bezos.

https://www.zerohedge.com/economics/amazon-cuts-100000-employees-workforce-single-quarter

By the way, Bezos has already passed the sceptre of Worldwide Amazon Stores on 21.06.2022 to American Doug Herrington who is currently CEO succeeding that other American Andy Jassy who barely held the CEO position for a good year. Andy Jassy succeeded Jeff Bezos as CEO on 04.02.2021.

https://www.cnbc.com/2022/06/21/amazon-announces-doug-herrington-as-ceo-of-worldwide-amazon-stores.html

https://edition.cnn.com/2021/02/03/tech/andy-jassy-amazon-ceo/index.html

Apparently, there is a hair in the soup at Amazon (which is not hard to understand when you know that human trafficking also takes place on Amazon, very specifically little boys and girls who are offered for sale in a code language under the guise of some commodity for which several thousand dollars are demanded while the same item is offered through other providers for a few mere dollars. These illegal practices also happen at Bol )


https://edition.cnn.com/2022/04/28/tech/amazon-earnings-loss/index.html



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