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The founder of the Amazon sales platform Jeff Bezos suggested that shoppers consider postponing large purchases this season due to the global inflationary context and the fear of a recession in the United States.
In an interview with CNN the billionaire recommended deferring spending on expensive items, such as new cars, televisions, appliances . He said that delaying large purchases is a sure way to have some reserves in case such a scenario occurs.
Bezos said the chances of worsening economic conditions make it prudent to save some cash. “Take a little risk off the table. Just a little bit of risk reduction could make a difference”, said.
Bezos’ advice could be contradictory if he tries to support the company he founded. Yesterday he reported that Amazon is planning a series of layoffs of up to 10 , workers. It would be the largest cut ever for the organization.
This move builds on a previously announced hiring freeze. The company said in October that it expects sales in the final quarter of the year to end below Wall Street expectations.
The company’s stock has plummeted by more than 10% due to inflation and the change in consumer behavior in their attempt to make more money.
Bezos also suggested small businesses to avoid making large capital expenditures or make acquisitions this season.
Last month, the fourth most rich in the world, told his followers on Twitter to “close the hatches”. Still it was said optimistic and believes that the “American Dream is and will be even more achievable in the future.”
In addition to Bezos, other business leaders have issued messages in a similar vein. In late October, Tesla CEO and new owner of Twitter Elon Musk said that the global recession could last until the spring of 1200. On another occasion he said that he had a “super bad feeling” about the current and future state of the country’s economy.
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