Amazon founder Jeff Bezos has some money-related advice for people – Times of India

Amazon founder Jeff Bezos has advised people to keep their money safe and avoid unnecessary spending due to the looming recession. The advice came as the e-commerce giant laid off about 10,000 employees, including Indian techies.
Bezos was speaking in an interview with CNN wherein he said that consumers should wait before making a big purchase like a TV or refrigerator or automobile so that they don’t have to struggle during the economic recession.
“Take some risk off the table, keep some dry powder on hand… just a little bit of risk reduction could make the difference for that small business, if we do get into even more serious economic problems. You’ve got to play the probabilities a little bit,” Bezos noted
“If you’re an individual considering purchasing a big-screen TV, you might want to wait, hold onto your money, and see what transpires. The same is true with a new automobile, refrigerator, or whatever else. Just remove some risk from the equation,” the former CEO of Amazon added.
“Things are slowing down. You’re seeing layoffs in many many sectors of the economy,” Bezos said. In the same interview, Bezos had said that he would donate the majority of his $124 billion net worth to charities to combat climate change.

Largest job cuts in Amazon’s history
The development comes as Amazon started laying off employees across the US, including some Indian techies. This is the “largest job cuts in the company’s history”. Amazon became one of the top technology companies like Meta and Twitter to lay off thousands of employees as it faces the heat of an anticipated economic downturn.
The e-commerce is reportedly planning to reduce 10,000 employees from its workforce. The company has reportedly offered a two-month period for its employees across the US to find some other job internally or accept the severance payment.