Business

100,000 fewer workers in 3 months. Amazon halts and abandons development plans for 42 warehouses in the US!

(*42*)

As I instructed you earlier, I believe, opposite to dominant evaluation, Amazon has a flawed financial mannequin and it has a structural downside and an inadequacy with the evolution of the world.

The supply story is pure delusion, as is the fixed ballet of vans and subcontractors being as poorly paid as they’re handled.

This group is a waste of sources, a mine producing air pollution of CO², full environmental nonsense.

Socially, e-commerce at this degree is destroying small companies and the industrial material of our cities, together with giant ones

But the worst half is that Amazon loses cash yearly and each supply and makes cash solely for its companion AWS.

This is the first time that my evaluation, which isn’t mushy and outdated on this worth, shouldn’t be confirmed for the second however considerably strengthened by new info and they aren’t completely impartial for the future. From Amazon.

You perceive that I’m not a purchaser of Amazon shares.

Amazon has closed and deserted plans for dozens of warehouses in the US

Amazon.com Inc, decided to cut back its sprawling supply operations amid slowing gross sales development, has deserted dozens of current or deliberate installations in the United States, in accordance with a intently watched consulting agency.

MWPVL (*3*) Inc., which tracks Amazon’s actual property footprint, estimates the firm has both closed or canceled plans to open a complete of 42 amenities totaling about 25 million sq. ft of usable house. According to MWPVL, the firm has delayed opening one other 21 websites, totaling about 28 million sq. ft. According to the agency, the e-commerce large has canceled a number of European tasks, principally in Spain.

This week, Amazon warned authorities in Maryland that it plans to shut two supply stations subsequent month in Hanover and Essex, close to Baltimore, that make use of greater than 300 folks. The strikes are a stark distinction to years previous, when the world’s largest e-commerce firm rushed into the fall to open new amenities and rent hundreds of workers in preparation for the vacation purchasing season. Amazon continues to open amenities when extra space is required to fulfill buyer demand.

“There are nonetheless severe cuts to be made earlier than the finish of the yr — in North America and round the world,” mentioned Mark Wolfratt, founder and president of MWPVL. “That mentioned, they proceed to convey new amenities into service at an incredible fee this yr.”

Maria Boschetti, an Amazon spokeswoman, mentioned it is common for the firm to crawl a number of websites without delay and make changes “primarily based on the wants of the whole community.”

“We weigh a wide range of components when deciding the place to develop future websites to higher serve prospects,” he mentioned in an emailed assertion. “We have dozens of achievement facilities, sorting facilities and supply stations beneath development and growing round the world. »

The closings in Maryland are a part of an initiative to shift jobs to extra trendy buildings, Amazon mentioned. “We usually evaluation how we will enhance the expertise for our workers, companions, drivers and prospects, and that features upgrading our amenities,” Boschetti mentioned. “As a part of this effort, we’ll shut our supply stations in Hanover and Essex and supply all workers the choice to relocate to completely different supply stations close by. »

Chief Executive Andy Jassy has pledged to finish a few of the pandemic-era enlargement that has left Amazon with an excessive amount of warehouse house and too many workers. Companies sometimes scale back the variety of workers by holding vacancies, decreasing hiring, and tightening self-discipline or productiveness requirements. But warehouse closures are additionally a part of the panoply and workers are bracing for extra. In the second quarter, Amazon employment fell by almost 100,000 to 1.52 million, the largest quarterly contraction in the firm’s historical past.

The Seattle firm has sought to sublet no less than 10 million sq. ft of warehouse house, Bloomberg reported in May. »

Source Bloomberg.com right here

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