In terms of the state of the economy, Amazon's founder is pessimistic

Jeff Bezos Wallpaper Cave

Consumers and investors are concerned about the economy

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The former have penalised tech company stocks in recent weeks by selling them

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This inflation, which is at its highest level in 40 years, has a significant impact on consumers

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This inflation has an impact on the prices of practically all goods and services

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Some analysts believe that aggressive central bank interest rate hikes to offset price increases risk sending the economy into recession

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Jeff Bezos, the Amazon.com founder (AMZN), believes that the US economy is already in a recession

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This recession has resulted in massive layoffs at many tech companies

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Amazon reportedly plans to lay off 10 thousands of employees

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Meta laid off 11,000 employees, 13% of the group's 87,000 employees

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These were Facebook's first cutbacks since the social media platform's founding in 2004

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Twitter also laid off nearly 3,000 employees a week ago

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According to Musk, the layoffs, come as Twitter apparently loses close to $4 million USD daily

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Snapchat laid off 20% of its workers, or nearly 6,000 individuals

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Netflix, has disclosed two rounds of layoffs. Up until October of this year, it has slashed about 450 jobs

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