Jeff Bezos, the founder and CEO of Amazon, has warned consumers and small business owners not to make expensive purchases during the holiday season.
In a sit-down interview with CNN released on Monday, Bezos said the economy does not look great, after being asked if the economy was in a recession.
If we're not in a recession right now, Bezos said, we're likely to be in one very soon.
He said to keep some dry powder on hand. If you're thinking about buying a large screen TV, keep that cash and see what happens.
It's not the advice the man who owns and runs the online retailer that dominates Black Friday sales every year would give, in addition to its just-as-lucrative Cyber Monday sale which follows only days later.
The New York Times reported that Amazon will lay off some 10,000 employees, which would be one of the largest layoffs in the company's history.
It appears that Bezos will be pinching pennies at the expense of thousands of workers, but probably not of his own wallet. Bezos bragged about how he was going to give away his fortune and donate $100 million to Dolly Parton during an interview.
The advice seems more like the words of a person looking for a PR victory than of a magnanimous altruist.
Things do start to sound a little grim if Amazon isattening down the hatches ahead of its usual moneymaking season.
Saving money isn't bad advice, but coming from a guy who casually tossed around the idea of buying a whole goddamn football team.
The Housekeeper of Jeff Bezos said she had to climb out the window to use the bathroom.
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