Amazon employees openly welcomed Jeff Bezos’ potential return to the helm of the struggling e-commerce giant after current CEO Andy Jassy announced a larger-than-expected wave of layoffs, in response to a report on Friday.
Speculation that Bezos could seek to exchange Jassy as CEO increased amid a sustained decline in Amazon’s share price. In a recent blog post, Michael Batnick, managing partner of Ritholtz Wealth Management, suggested that Bezos could “pull out Bob Iger” this yr and return to stabilize the corporate he founded.
Workers reportedly discussed the likelihood in an internal layoffs forum on Thursday – the identical day Jassy mentioned economic uncertainty, detailing plans to chop greater than 18,000 jobs earlier this yr. The screenshots of the messages were obtained by Insider.
“Apparently even Andy is not protected,” one worker reportedly wrote together with a link to Batnick’s CNBC interview where he discussed why he believes a Bezos homecoming is feasible.
“He should come… he’s the perfect,” said one other worker, referring to Bezos.
A colleague responded with a screenshot saying “The Return of the King”, while one other shared a photograph of Bezos with the caption “Do you miss me already?”
Bezos ceded the role of CEO to Jassy in 2021, though he continues to function Amazon’s executive chairman. The founding father of Amazon is currently the fifth richest person on this planet, with a net value of $109.4 billion, in response to Forbes.
But Bezos’s net value has plummeted alongside Amazon’s valuation over the past yr as a severe downturn hit the tech sector. Shares in Amazon and other Big Tech giants have been steadily selling off as a series of Federal Reserve rate hikes sparked fears of an economic slowdown.
Jassy responded to the deteriorating economic outlook and declining revenues with some cost-cutting measures, including layoffs this week.
One worker in an internal Amazon chat referred to the corporate’s dismal recent performance.
“No wonder there are rumors [Bezos] comes back. Probably by asking [Jassy] What are you doing to my company,” an worker wrote.
So far, Bezos has given no indication that he plans to return to a more substantial role or that Jassy’s performance is in jeopardy.
Insider’s report said some employees were critical of messages from Amazon executives as they began layoffs, equivalent to the choice to announce the cuts in a public blog post on Thursday.
When asked for an Insider comment, Amazon reportedly declined to comment on the opportunity of Bezos returning. Instead, the corporate addressed internal complaints about its communication methods.
“Increasingly, we communicate our vital news as an organization through our Inside Amazon (Inside Amazon) external Amazon news site (About Amazon),” the spokesperson said in an announcement.
“The overwhelming majority of the feedback we have received has been as positive because it gets with tough news like this. With 1.5 million employees, we at all times see mixed views and if we consider there’s something to be learned from that feedback, even when it comes from a small minority, we are going to make adjustments in the long run.”
The Post contacted Amazon for further comments.
