you are hearing from amazon. , ., �* amazon. basically what i'm heafina amazon. basically what i'm hearing is _ amazon. basically what i'm hearing is that _ amazon. basically what i'm hearing is that well-placed | hearing is that well—placed sources suggest effectively that once this round of shows effectively involving jeremy clarkson go to air that we are not going to see any more of the presenter on the streaming service was top keep in mind we have another couple of years here with clarkson starring and remaining, the remaining four episodes of the grand tour and two seasons of clarkson's from but beyond that i don't know if any more new shows will be commissioned, as i understand. it is a really bold statement from amazon, and i think it is a very interesting way for them to effectively sort of park waves with clarkson, albeit in a way that gradually gets him off the service.— off the service. ok, and according _ off the service. ok, and according to _ off the service. ok, and according to your- off the service. ok, an

amazon - better. they get a team of technicians. amazon saysl better. they get a team of i technicians. amazon says the better. they get a team of - technicians. amazon says the pay is competitive — technicians. amazon says the pay is competitive and _ technicians. amazon says the pay is competitive and in _ technicians. amazon says the pay is competitive and in a _ technicians. amazon says the pay is competitive and in a statement - technicians. amazon says the pay is | competitive and in a statement said, we appreciate the great work our teams do throughout the year. like most companies we have a system at amazon that recognises great performance and also encourages coaching to help employees improve if they are not meeting their performance goals. performance is only measured when an employee is attestation and logged in to do theirjob. amazon does not recognise trade unions in the uk so there's not much hope of any pay negotiating happening soon but darren is undeterred and feels it is his duty to stand up for the workforce. these eo - le to stand

still the engine of amazon. leave it alone. dave on the devices side got in touch with myself and my colleagues to say reductions in his group were more limited than people thought. and that is my point here these 18,000 layoffs are in the core business. that's retail, hr and recruiting. this is really andy jassy looking at the cost structure for the very basic part of the business. last year was about whittling down the experiences that weren't working. this year's about rightsizing that core part of the business and showing investors that amazon's oldest business is still the best. ed: we showed that chart on the screen that demonstrates 18,000 jobs being cut. in the grand scheme of amazon's size, it is small but never pleasant to lose one's job. it is not the only tech name that is taking this action. salesforce also building out, already reported plans to downsize. what do we know? >> 8000 layoffs. smaller than amazon but more consequential because that is 10% of the staff. the story is the same. if you are a fast-growing c

do you think amazon needs the same as we wait on amazon deliveries it is not just retail amazon it is web services business slowing. again, if there are too many people, they need to let some people go! even if sales stay the same, earnings cannot grow as long as they find ways to cut costs. that would be enough tmao ke the market happy and stock would fly. if your company actually practices the values that it posts about, then, yeah... you're on team earth. >>> stocks shaking off the fed commitment to raising rates. snapping the two-day losing streak the markets may face for pressure at open. >>> big barrage of job cuts with amazon announcing slashing 18,000 jobs with growing concern of the economy. >>> and will the seventh time be the charm? mccarthy is looking to get critical votes for speaker. >>> it is thursday, january 5th, 2023 you are watching "worldwide exchange" here on cnbc welcome back i'm frank holland in for brian sullivan let's get a check of the trading day right now. futures are basically flat up and down. lower this morning we want to get a check of the s energy crud

amazon to lay off 18,000. fed officials delivering a blunt warning, keeping big tech in the penalty box.

., giant amazon. and they are not the onl ones giant amazon. and they are not the only ones taking — giant amazon. and they are not the only ones taking industrial - giant amazon. and they are not the only ones taking industrial action i only ones taking industrial action is by any means this year. thank you. john's here with the sport. we love the story of an underdog in this programme, don't we? we do indeed and it's interesting this morning because we are talking particularly about a country which does not have a recognised football team. essentially the only one on earth. and how you go about changing that? a team of any kind, any club. club, country. how you go about changing it this morning. everyone plays football. you would think, right? it's a global game touching every corner of the planet but apparently not the marshall islands. good morning. the marshall islands, the only country on earth that doesn't have a recognised team. the pacific islands nation made up of five tiny islands, with a

amazon closing the doors on its charity business amazon smile users are not happy. it could reveal issues with amazon's broader business. we'll get into that when we come back power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your busines

the and the amazon rain forest for the rest of the world.— and the amazon rain forest for the rest of the world. the amazon rain forest is one _ rest of the world. the amazon rain forest is one of— rest of the world. the amazon rain forest is one of the _ rest of the world. the amazon rain forest is one of the elements - rest of the world. the amazon rain forest is one of the elements in i rest of the world. the amazon rain | forest is one of the elements in the climate systems. it's important not just because of the carbon stocks, but because the amazon forest is a major component of the cycle. so, the whole rainfall in parts of brazil and central america is really important for agriculture. when we cut down the forests, we are cutting also these cycles, so it will be together with the climate change a huge impact for brazilian economy if they don't deserve the amazon region. this is the point that not that we need the forest for land, we need it for the rain that we feed our other agriculture. mercedes, thank ou our other agriculture. mercedes, thank you very — our other agricul

amazon workers in new york the moment _ let's go! amazon workers in new york the moment they _ let's go! amazon workers in new york the moment they made - york the moment they made history. 0rganising the tech giant first american union. the victory was onlyjust made official. victory was only 'ust made official. ~ ., victory was only 'ust made official. ~ . . ., , official. with a huge victory like that that _ official. with a huge victory like that that was - official. with a huge victory like that that was all - official. with a huge victory like that that was all over l official. with a huge victory l like that that was all over the media... i like that that was all over the media... . ., like that that was all over the media... . . , like that that was all over the media- - -_ media... i caught up with the two friends — media... i caught up with the two friends behind _ media... i caught up with the two friends behind the - media... i caught up with the i two friends behind the amazon labour union. to find out the current stat

do you think amazon needs as many workers waiting for boxes, waiting on our amazon deliveries it's not just retail amazon that's under assault, it's web service business also slowing, so again, if there are too many people, they need to let some people go. even if their sales stay the same, their earnings still can't grow as long as they find ways to cut costs and that would be enough to make this market happy. >> that's jim from last night, before the jassy memo. welcome to "squawk on the street." i'm carl quintanilla with jim cramer at the new york stock exchange david has the morning off. futures lost ground after adp comes in hot and jobless claims coming in below estimates. m plenty of fed speak today. amazon's belt tightening, cutting more than 18,000 jobs. the latest company to ramp up cost cutting watching yields climb after comments from esther george a few moments ago. s signs the fed does remain in hiking mote, and silver gate plunging, customer deposits plunging on what it calls a, quote, crisis of confidence. let's begin with amazon announcing plans to eliminate more than

amazon is a massive _ very intense. amazon is a massive employer - very intense. amazon is a l massive employer globally, very intense. amazon is a - massive employer globally, we had a story about union in the us trying to establish itself in the us presenting amazon workers, a work in progress. they employ 1.5 million people, i know they are reducing that significantly. but their gross profit at the end of september was to $60 billion, this is a company that really should be an example, shouldn't it given how many people it employs, how extensive it is globally in terms of how it treats its workers, amazon is a huge global player. . workers, amazon is a huge global player-— global player. . but it has often been _ global player. . but it has often been antagonistic. global player. . but it has| often been antagonistic in terms of unions, there was a previous attempt to organise, amazon �*s response was to try to bust the union. we will probably see this with the case, there is not been a productive relationship between organised workers and amazon anywhere i

amazon announced in 2020 amazon pharmacy, where you can use insurance and if you choose not to you can pay a bit of cash but get a big discount on drugs. this is similar, but it seems to be that subscription part. there was a reaction today to this news. caroline: particularly from competitor stocks, which fell. goodrx, when we questioned the ceo, he said amazon is not our threat. now analysts are saying, innovate. if you think about what amazon is offering, five dollars a month, it is not going to compete versus goodrx ordering just one drug. if you are ordering three, five dollars a month is really cheap. ed: but you cannot use government insurance. another part of that was interesting, not available in california or texas. the country's most popular states. amazon did not give an explanation as to why. caroline: you have to gut check it and think it has to be with regulation. overall this is a company that has time and time again focused on how we can become more addicted to prime. seemingly by offering health care is the way to do it. coming up, more on google's lawsuit. what it me

i year-and-a-half ago, amazon was laying people off. jeff bezos had a mantra, the only way out is to invent our way out. with andy jassy, it is the only way out is to cut our way out. if you look at the retail business, the oldest business at amazon, it is in bad shape. lost about $2.5 billion last quarter, but if you back out advertising it is probably much more, nine or $10 billion. some of that is investments in video and autonomous driving, and other experiments, but the basic oldest business at amazon is miserably unprofitable. investors are clamoring for jassy to improve it. and you start by cutting the cost structure. >> it is tough for andy jassy, how much does he have the confidence of investors and the founder of the business? >> it's always worth noting that he inherited a lot of these problems. it was bezos that was distracted in the final years of his 10-year that authorized pre-pandemic expansion of fulfillment centers, product lines, geographic expansion.a lot of that jassy has had to unwind and place more strategic bets.

the plans to cut a tenth of the workforce and will jeff bezos pull an iger maybe a second round as amazon's ceo? i don't think so >> find out what they mean we want to kick off this morning with two big calls on the street today. a buy call on meta and a downgrade of wall street darling microsoft. meta, to say it's seen its resurgence would be an understatement went from a dud to a favorite. stock got upgraded to buy at j.p. morgan, a top pick of the year at citi and goldman and new street initiating it with a buy today. why the optimism analysts are citing increased cost discipline to a rebuild of the ad platform, and the general idea that the negativity is getting priced in. let's bring in cnbc contributor to todd gordon to talk about it the note is interesting, they argue the privacy changes are getting absorbed, see tiktok as a threat that may fade later in the year is that pollyanna or not >> i think so. i think it's taking the regulatory focus and obviously meta trying to reinvent itself and the focus on tiktok, i think it gives meta some breathing room to operate, reengage in the adv

stetland let's check out some of the names seeing the most options action this week, tesla, apple, amazon, microsoft, nvidia. small caps a merging markets and the china large cap etf. apple down from year high and year low carter, which direction do you think is more likely at this point? >> this is sort of a push for me otherwise it's a pair of twos, not a particular by bad bet. we're right back to 100 day average. the you were to look at a chart, we're right in the midrange of the last 18 months my hunk is to fade it if one wants to be directional. >> mike, what do you say >> yeah, i mean, this is interesting. one of the names that saw a lot of action this week. did see some big institutional prints and earlier this week we saw a big purchase of the february 137 puts, nearly 14,000 actually of those were purchased. one of the blocks we saw was just over 13,000 buyer paid 375 that's relatively short dated. we're only looking up to february 17th for that, but it does seem clear. probably a hedge, but some institutional participants are leaning short like carter is. >> brian, what's your h

amazon's u.k. workers are on strike today. it is the first time at the amazon's warehouses in coventry. lizzy burden is on the ground for us. what is the latest? lizzy: i am not sure if you can hear the parking. we are on the picket line and cars are being stopped by the union on their way in to see whether they want to join the strike. 300 workers at this amazon fulfillment center are expected to join today. they are members of the gmb union which is asking for a 50% pay rise to 15 pounds an hour. they say that is necessary for workers to deal with the cost-of-living crisis and that they deserve it because they have grafted through the pandemic. but amazon is not even entertaining that demand. it says that its offer of pay is competitive, pays the national living wage. it is proud of what it pays, it says, but the union says that is nothing to brag about paying the absolute member number -- absolute minimum. amazon has gotten 200 million pounds of profits in 2021. the union says if amazon does not give in today, it will try t

one of them was a small company called amazon, and everybody said that amazon was finished and you know, it was to ambitious, we know 20 laser amazon is arguably the world's dominant, a retail company because it exactly as you say, it twigged. the change in our behavior and how the economy works and you may see that in effect now. i mean jim makes an excellent point. it's only 10 percent. in most cases of staff that are being left go many startup companies that i talk to say the downturns like this, where there's a certain number of people being left go from the big companies are actually very good for them because they find it very difficult to hire people in normal boom times now they might be able to afford to hire a director of engineering. i know they're very valuable staff, so it's very possible that actually you might see this laughing if you want to call it fast. you might see new blood, a new companies and new ideas, a new start ups that is something i want to, i want to home in on. in a few moments. first, elena, i want to ask you a specific question about about meta here and

amazon is trying to do it. i have never been on amazon fresh. like he says, you walk in with your phone. lisa: it tracks you. you just walk in, walk out. tom: have you --? lisa: i have not. i have done other technologically induced food expenses. tom: velveeta. remember the magic of fairway on the upper west side? lisa: it was not because of technology. it was because of some of the goods and what you could specifically by their and specialties you could purchase. i want to bring this up. there are more people falling behind on car payments than at the peak in 2001 -- we are talking about the resilience of the u.s. consumer, yet you see this issue after the prices of cars exploded ring the pandemic. tom: the old $250 a month is now $400 a month? lisa: there are people paying more than $1000 a month, it was basically another mortgage depending on what they financed. tom: i paid off my car in 1968. i still have it. it is great. i do not take it much out in the winter. lisa: [laughter] if you hear the clunk, clunk, clunk down fifth avenue, that is

it would say to amazon and restrict amazon from finding a product that is selling well on the amazon platform. amazon then goes out and replicates the product and sells that product and benefits it's product by putting it at the top of the search and putting the product that they enter into a contract with to sell on their platform and putting that product on page two or three. you cannot discriminate once you have a monopoly platform like these four companies have, you cannot discriminate against the other products that are on your platform. mr. tracy: and that second bill you mentioned was one last year 2022 was at least at the forefront of a lot of these debates on capitol hill. i gather you were writing that book while that was still being debated last year. we got to the end of the year and it did not pass. what happened? rep. buck: it up as the house judiciary committee it was sent to the floor and was never called upon the floor by speaker pelosi for a vote. i believe it passed the senate judiciary committee. again, it was not called by senator schumer for a floor. i think we

the company said, amazon announced 10000 job cuts. also, on top of that, in november, the federal trade commission has proposed the banning of non compete closes. the move would allow workers to take jobs at rival companies or start competing businesses without the threat of being sued by their former employers. the f t c says they clauses are exploitative and undermine fair competition. and then scott has more in that story for us from new york. yes. why does the f t c c non compete causes a such a big issue and work as contracts? well, daniel, it has been a hot topic, our debate for quite some time. i mean, originally this non compete, thought was thought for high paid high ranking executives so that they don't leave the company to a competitor for example, and then take a trade secrets with them. so those non compete agreement basically mean that after you leave the job, you'll contact in the same industry for depending on the 6th month or up to a year. but then i'm actually more and more workers also in the lower payment segment a

mostly because i thought i had heard it before -- amazon announced back in 2020 amazon pharmacy, where you can use insurance, and if you choose not to, you can pay a bit of cash you get a big discount on drugs. this is very similar, but it seems to be that subscription part of it and there was a reaction today to this news. caroline: particularly from competitor stocks, which fell. good rx has been accompanied that time and time again when we have questioned the ceo, he has said amazon is not our threat. now analysts are saying, innovate. if you think about what amazon is offering, five dollars a month, it's not going to compete versus good rx if you are ordering just one drug. if you are ordering 1, 2, three, five dollars a month is really cheap. ed: but you can't use government insurance. and there is another part of that that is interesting, not available in the country's most popular states. amazon didn't give an explanation as to why, which i thought it was interesting. caroline: must be to do with regulation. signing off, crossing the t's and dotting that i's. overall this is a c

and restrict amazon from finding a product that is selling well on the amazon platform. amazon then goes out and replicate the product and sells that product and benefits its product by putting it at the top of the search and putting the product that they have entered into a contract with to sell on their platform and putting that product on page two or three of the search. so they you can't discriminate once you have a monopoly platform like these four companies have, you can't against the other products that are on your platform and that second bill that you mentioned was one that last year, 2022 was, you know, at least at the forefront of a lot of these debates on capitol hill. and i gather that you were writing the book while that was still being debated year. we got to the end of the year and it didn't pass. what happened? well, it passed the the house judiciary committee and sent to the floor, and it was never called up on the floor by speaker pelosi for a vote. i believe it, passed the senate judiciary committee. i'm not sure about that. but again, it wasn't calle

you think they will spend on amazon, netflix and tiktok amazon is intent-driven. what do you like about tiktok and netflix? is it better targeting >> yeah. >> for tiktok, the platform was the winner of the survey in terms of expected share gain. in terms of advertiser adoption. we found it was the number one platform, if an advertiser wanted to start a new brand campaign, for the 13 to 34 demo. it's a big brand platform. and a lot of rising options on the advertising side netflix, about one-third say they expect to advertise on it in 2023. started in november of last year and they expect netflix to get premium cpms with youtube and other ad networks. we'll get the update when they report the early earnings. >> tiktok may be the most appealing to buyers. but washington is keeping a close eye on the company on the app. what happens if it's banned in the u.s. >> we explored that in the report they were favored by a large margin in terms of if you want to place an ad on a short form video platform if it were banned this year in the u.s., meta reels and youtube shorts

one of them was a small company called amazon, and everybody said that amazon was finished and you know, it was to ambitious, we know 20 years later, amazon is arguably the world's dominant, a retail company because it exactly as you say, it twigged the change in our behavior and how the economy works and you may see that in effect now. i mean jim makes an excellent point. it's only 10 percent in most cases of staff that are being left go many startup companies that i talk to say the downturns like this, where there's a certain number of people being let go from the big companies are actually very good for them because they find it very difficult to hire people and in normal boom times now they might be able to afford to hire a director of engineering. i know they're very valuable staff, so it's very possible that actually you might see this laughing if you want to call it fast. you might see new blood, a new companies and new ideas, a new startups that is something i want to, i want to home in on. in a few moments. adrian. the 1st alina i want to ask you a specific question about, abou

{bitten extremely worrying for amazon. given that amazon — extremely worrying for amazon. given that amazon do _ extremely worrying for amazon. given that amazon do not _ extremely worrying for amazon. given that amazon do not recognise unions in the uk, how much of a risk is it for your members to be going out on strike at all? t5.th for your members to be going out on strike at all?— strike at all? our members are the same people _ strike at all? our members are the same people who _ strike at all? our members are the same people who were _ strike at all? our members are the same people who were protesting l strike at all? our members are the i same people who were protesting in august last year when amazon first announced they were going to get that derisory 50p per hour to rise. they were doing that without any security or a legal protection, they now have that because we have gone through a lawful statuary industrial ballot process. they have that security of knowing they are doing this as part of a trade union so they are now in a much stronger position. they are n

google, amazon, microsoft and apple. they all assure us that they're not listening in on phone calls or using our phones, microphone to spy on us. we are cooking and then sending us ads for a frying pan. for example. technically, this would be possible though, but let's assume that the companies really are speaking the truth. how can we still be so perfectly targeted with apps? companies like mehta and google make money through advertisements. personalize ads are especially effective. the more the companies know, the better they can target you. instagram's parents, company meta saves information that users leave when the use the up. that includes everything you share with other users voluntarily, like photos, comments and links. but the app also stores meta data from photos and videos that you upload, like where it was shot, and what it to picks. if you're constantly logged into instagram or facebook on your phone, you're also sharing your location as instagram, facebook, and what's up all register. where when the at thi

and also reporting amazon, that stock is on a tear up more than 20% already. so with earnings in the cart, can we play the ecommerce giant. mike >> yeah, so amazon is a tough one for me it is not a stock that we own. first of all, let's just take a look at the good news. this is a stock that rallied very sharply online sales into the pandemic i'm not sure that they really delivered quite in terms of eps during that period, but the stock rocketed higher in that pandemic basically bubble i'd almost suggest and it has come back in. so we're looking at a valuation for amazon that is roughly a level pre-pandemic price so that is a potential positive. one of the down sides is that we're dealing with post-pandemic headwinds. we heard some of that from microsoft. you look at even their better businesses like cloud and we hear that business spending is under some pressure. right now the options market has a much larger than average implied move so unlike brian where i'm not sure that i'm comfortable owning it at a mild discount to the current stock price, i'm simply lo

that's what amazons alex. so apple, siri and microsoft katana all pretend to be a good i am aaliyah's assistance, voice assistance basically work by always listening in on what's being said in a room through their microphones. dung from the default the voice recognition then kicks in once the magic word, which is basically the words. the voice assistant reacts to has been said about duffy donna after which everything i say is sent to the cloud. the thought done sent to voice recognition before it comes back as command and logged on to task is completed. i like so what's 500? 87 minus 398. 100. 89? correct? yeah, yes. by now voice assistance can deal with more complex requests. they also know our preferences site, which recipes we like, what we buy. when we sleep on family norton cushion, everything is recorded saved on service in the us, and linked with all the use the data. and that's all timbers. amazon for example, knows who i am because i'm signed in on my amazon account as i say, that means they also know

amazon the latest to confirm a leak of deeper job cuts. this is bloomberg. ♪ rishaad: here we go, set it up again. hang seng up nearly 7% and eight very short time since the start of the new year. we are seeing tech as one of the main drivers. mainland asia is joining the party. on the tech side of things, amazon saint it is laying off more than 18,000 employees, a significantly bigger number than previously planned. su keenan is a new york and joins us now. >> cost cutting a key theme for 2023, amazon picking it off by announcing that they are laying off more than expected, 18,000 or more employees, most of them from the corporate ranks, hr or human resources and the retail division, and we also note these conversations will happen in just the next two weeks beginning january 18. the cuts began last year and the reduction is concentrated in the corporate ranks. we also know that ceo andy jassy in a memo put out the steps at the cuts are following the company's annual planning process, all the details themselves are not known until now.

the company said, amazon announced 10000 job cuts. also, on top of that in november, the federal trade commission has proposed the banning of non compete clauses. the move would allow workers to take jobs at rival companies or start competing businesses without the threat of being sued by their former employers. the eft, he see says they clauses are exploitative and undermine fair competition. and he and scott has more in that story for us from new york. yes. why does the f t c c non compete causes a such a big issue in work as contracts? well, daniel, it has been a hot topic. our debate for quite some time. i mean, originally this non compete clause was thought for high paid high ranking executives so that they don't leave the company to a competitor for example, and then take a trade secrets with them. so those non compete agreement basically mean that after you leave the job, you'll contact in the same industry for depending on the contract 6 months or up to a year. but then actually more and more workers also in the lower payment

amazon doesn't do that. this is about sustainable jobs for these workers. >> you have asked for 15 pounds an hour because the u.s. minimum is currently $18 an hour. so 15 would be about $12 an hour. how have you arrived at this number? >> they are advertising that pay on average $18 an hour in the u.s., which is above the 15 we are asking for. what we want amazon to do is start to talk to us, sit down with us, listen to the concerns of these workers. that will be the first step here. >> thanks so much for being here with us. tom: thank you very much indeed. let's get the rumor business lash with simone foxman in ohio. simone: the new york stock exchange said some trades will be declared null and void after glitch caused wild price swings and trading halts on hundreds of stocks. saying it started in yesterday's session. wells fargo and mcdonald's were affected. microsoft shares swung into the red in late trade after seeing revenue growth in its cloud computing business slow in the current period. the azure un

okay amazon has barely done any firing or consolidating. that is ill advised. by the way, it doesn't matter how much they're making amazon web services i bet they won't tell you explicitly they might give us a read on advertising. maybe they don't i hope they do maybe they don't does amazon worth a trillion dollars? yes, if it lays off a lot of people netflix, although, only $157 billion company it didn't keep pace this is the only fang component that's thriving but too small to matter they put out a forecast, thank you. they beat it stock goes higher. they don't beat it, stock goes lower. whether they can beat it is like any other tv studio and you can figure that out. netflix isn't special anymore. alphabet is harder like meta, they offer no easy way to understand the business they have all sorts of health care operations, a.i self-driving cars. they bought that for a song but now it's probably worth half a song i'm hoping to see a way to arizona to get to the super bowl maybe i can hail one maybe i can't. alphabet in short is a total mishmosh there is a name

there are 70,000 amazon workers in the uk. 0f 70,000 amazon workers in the uk. of those about 1500 are based here at the coventry warehouse. the company is one of the biggest in the world, of course. it is partly because so many people buy stuff on there. amazon says that 86% of us, almost nine in ten people have bought at least one service from the firm that it is still having to make cutbacks. it is cutting 18,000 jobs, including the closure of three uk warehouses, putting 1200 ukjobs the closure of three uk warehouses, putting 1200 uk jobs at risk. the dispute here today is about the pay offer amazon has made to its workers in the uk, an increase of 50p an hour, taking the starting wage to £11 45 p. then hour, taking the starting wage to £1145 p. then national minimum wage is going up in april to £10.42 an hourfor is going up in april to £10.42 an hour for anyone is going up in april to £10.42 an hourfor anyone aged 23 is going up in april to £10.42 an hour for anyone aged 23 upwards. let's hear more details. my colleague zoe conway has spoken to two wo

one of them was a small company called amazon, and everybody said that amazon was finished and you know, it was to ambitious. we know 20 laser amazon is arguably the world's dominant, a retail company because it exactly as you say, it twigged the change in our behavior and how the economy works. and you may see that in effect now. i mean jim makes an excellent point. it's only 10 percent in most cases of staff that are being left go many startup companies that i talk to say the downturns like this, where there's a certain number of people being let go from the big companies are actually very good for them because they find it very difficult to hire people and in normal boom times now they might be able to afford to hire a director of engineering. i know they're very valuable staff, so it's very possible that actually you might see this laughing if you want to call it fast. you might see new blood, a new companies and new ideas, a new startups that is something i want to, i want to home in on. in a few moments. adrian 1st, elena, i want to ask you a specific question about about meta her

you know, if you want to compare again to let's say amazon, you know, amazon's concerns and woes have been extrapolated into microsoft and cloud. but amazon has their own issues, right? >> sure. >> so i think google is symbolic of this growth trade coming back on microsoft trying to make it go but google will be focussing on those coms as they rotate back in. >> look forward to a little more clarity later today. todd, appreciate it. thanks. >>> after the break, despite bitcoin's rally, mizzou is reiterating. plus, what verizon is saying ahead of at&t and t-mobile and live nation will take questions from lawmakers after the meltdown that occurred during the sale of taylor swift tickets. just can't shake it off. anti-trust concern in focus. "tech check" is just getting started. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones >>> welcome back to "tech check. take a look at coinbase, up more than 50% to

plus, a recovery for amazon, up 12%. but new numbers show ratings for the nfl are down mostly because amazon took the thursday night package. anoxaudience there less prbu anrost d can streaming pay off long-term? we'll be right back. hi ladies! alex from u.s. bank! can she help? how about a comprehensive point of sale system... that can track inventory, manage schedules- and customize orders? that's what u.s. bank business essentials is for. (oven explosion) what about a new oven, can u.s. bank help us there? we can serve loans in as fast as 12 minutes. that would be a big help! huge! jumbo! ginormous! woo! -woo! finding ways to make your business boom. that's what u.s. bank is for. we'll get there together. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying t

>> i think of those two names as completely different yeah, software, tech, amazon, what investors would say is look, i think they can have much higher revenue, probably higher profits in 2023, 2024 than they did in '19, even in an eroding economy. salesforce, it's more interesting. they have done some deals. they don't really make a ton of money on a gap basis so there's probably more hair to pull at for them i think what probably is the thing investors are trying to figure out the most is midcap software and semis those are the two areas i spend a lot of time with investors semis are very bifurcated right now. you see the news out of consumer electronics. pc, memory, pretty bad and getting worse. industrials and autos, much better, but people suspect they'll decline. they're trying to figure out can i own these more defensive semis with industrial exposure and still be okay even if estimates are 5% or 10% too high that's where half the investors are. midcap software, i would say less popular people are afraid to own things that lose money. i'm starting to warm up to the idea that i wan

the company said, amazon announced 10000 shortcuts. also, on top of that, in november, the federal trade commission has proposed the banning of non compete closes. the move would allow workers to take jobs at rival companies or start competing businesses without the threat of being sued by their former employers. the f t c says they clauses are exploitative and undermine fair competition. and the n scott has more in that story for us from new york. hence, why does the f t c c non compete causes a such a big issue and work as contracts? well, daniel, it has been a hot topic or debate for quite some time. i mean, originally this non compete, thought was thought for high paid high ranking executives so that they don't leave the company to a competitor for example, and then take a trade secrets with them. so those non compete agreement basically mean that after you leave the job, you'll contact in the same industry for depending on the 6th month or up to a year. but then i'm actually more and more workers also in the lower payment segment

ready right to the amazon to climate we are saying for many years that amazon force is very close to tipping point, a tipping point of becoming a highly degrade open cannot be degraded assistance. so we have to get to 0 deforestation. and then we have to start at large scale course restoration during comp $27.00. we launch arts of restoration, largest scale for to restoration lula me so poor t these ideas, larger scale parts restoration. to avoid this tipping point, professor carla's not really good to get your thoughts and your analysis. thank you very much. indeed sir, for talking to out a 0. thank you. thank you. now 14 people have died in an attack on a prison in the northern mexican city of water. as the donor sold by gunman and army vehicles allowed 24 inmates to escape, 10 of the dead were prison guards. writing also took place inside the prison during the attack. the facility hold inmate some, several drug cartels. the international monetary fund says it expects a 3rd of the global economy to go into recession this year. if director says 2023 will be even tougher than the pre

the company said, amazon announced 10000 job cuts. also, on top of that, in november, the federal trade commission has proposed the banning of non compete clauses. the move would allow workers to take jobs at rival companies or start competing businesses without the threat of being sued by their former employers. the f t c says they clauses are exploitative and undermine fair competition. and the ends court has more in that story for us from new york. hence, why does the f t c c non compete causes such a big issue and work is quicker. our debate for quite some time. i mean originally this sir, non compete clause was a thought for a high paid high ranking executive so that they don't leave the company to a competitor for example, and then take a trade secret with them. so those non competes agreements basically mean that after you leave the job to a year, but then actually more and more a workers also in the lower payment segment and also got so those are non compete clause as mirror and business that is hindering and innovation. and t

one of them was a small company called amazon, and everybody said that amazon was finished and you know, it was 2 m basis. we know 20 years later, amazon is arguably the world's dominant, a retail company because it exactly as he does say, it twigged the change in our behavior and how the economy works. and you may see that in effect now. i mean jim makes an excellent point. it's only 10 percent in most cases of staff that are being left go many startup companies that i talk to. they the downturns like this, where there's a certain number of people being let go from the big companies are actually very good for them because they find it very difficult to hire people in normal boom times now they might be able to afford to hire a director of engineering, i know they're very valuable staff, so it's very possible that actually you might see this lighting if you want to call it fast. you might see new blood, a new companies and new ideas, a new startups that is something i want to. i want to home in on, in a few moments when the 1st selena i want to ask you a specific question about about me

this is what i'm upset about with amazon. they spent all this money here and haven't taken care of it and dropped those -- well, they hadn't made the big head cuts. e commerce went back to normal but for this group, normal is pretty good. this is one of the most hated industry i haves in the market and you have to be selective to find anything investable back in december we highlighted five making comebacks, which is etsy, shopify, pinterest, going south america and chewy. etsy hasn't stopped a beat they help small and medium size business the amazon of south america, chewy is a digital pet food retailer and transitioning from an ad driven social network into a commerce driven story. since then, pinterest have roared while etsy and chewy have come in. i like because they're focused on profitable growth if you have to ask me what my favorite would be at this very moment, it is still etsy because i like the fact they picked up new people and didn't lose them while many retailers are struggling, there are higher quality ones tha

. >>> amazon will slash more than 18,000 jobs. a sharp increase from initial estimates as tech sector layoffs gather pace. >>> good morning welcome to "street signs." let's check in on markets. still digesting the fmoc minutes from yesterday more hawkish than some hoped for. the fed will do what it will take to keep inflation in check. a lbit of a turn around today, in aeurope, the picture s mixed. the stoxx 600 is down .20% that hawkishness coming through and individual stories remember in the last couple days in europe, we had positive macro data pmi numbers and final pmi better than expectations. there is a positive momentum on the macro fund the stoxx 600 today is struggling to get a significant rally in as far as european markets, this is the breakdown a mixed picture. dax down .20%. we are seeing a bit of a lift in the industrial space cac 40 in france is down .50%. the ftse 100 in $100 in the u up .30%. over the holiday season and guiding to a positive 2023 as well that is giving a bit of a lift to other retailers in the sp

amazon, we kind of knew about. the job cuts were announced earlier this month but we got some more flesh and where they are taking place. which teams have been impacted. this chart is really keen because it shows current headcount. 18,000 is about 1% of amazon's total workforce globally. if you take a step back, and think about in the context of proportion 6% of corporate jobs and it's interesting as well to kind of here how this came about. bloomberg reporting on this issue but a memo from the retail chief a sickly explained that by the end of the day the teams impacted would be notified. context is kind of keen. the question we ask ourselves, is this part of tech for the world to come in 2023? >> and where will they be reducing and where we will see technology companies investing? for we dig into those sort of nuances, we want to talk about one of the key issues that layoffs sometimes bring for plenty of chief security officers. there are security concerns around all of this. disgruntled workers for example, mayb

amazon, we've got right below it at then microsoft. so you've got apple, microsoft, and amazon, the top three largest market caps. there's not a lot of room for error. >> no. there's not. that's how the market's going to go. tesla's another big player that's in there. netflix not long ago. tech dominates. there's a lot of boring reports coming up from the likes of sherwin williams, right, like who is paying attention to that. >> how much paint did they sell be. maria: tesla is number nine, reporting record revenue. the stock is up this morning, not following other tech companies in terms of issuing layoff announcements, it says it's actually hiring, tesla up 7%. your thoughts. >> very interesting. look, i think it's a very bold strategy for them, given this economic climate, to be loading up and hiring talent and increasing distribution while everyone with else is tightening the belt buckles and pulling back. long-term, that's typically a good move for businesses because you get to pick up market share during that time but short-term,

hat negotiation between amazon and the union? ., . ., , negotiation between amazon and the union? ., . .,, ., negotiation between amazon and the union? ., . ., union? not much hope of anything ha ”enin union? not much hope of anything happening anytime _ union? not much hope of anything happening anytime soon _ union? not much hope of anything happening anytime soon because i happening anytime soon because amazon does not recognise the gmb, it does not recognise any trade unions. what that means is that they will not enter into paid negotiations with the union. you might well ask well, what is the point of the strike was that i think what the gmb would say is it is about raising the profile of that workforce. what you heard in those interviews with gmb workers was that yes, they are very frustrated about their pay but they also are frustrated about their working conditions. they spoke to me earlier this week about feeling constantly monitored, tracked and under intense pressure. forthem monitored, tracked and under intense pressure. for them it's about giving them a voice that t