From The Blog
30 July 2024
Jeff Bezos has been open about his company’s business strategy: ‘Amazon exploits its power in one sector to take over neighbouring markets. Each new conquest adds more momentum. The flywheel accelerates.’ Amazon is currently valued at more than $2 trillion. Last year, its main UK division posted a profit of £222 million and paid no corporation tax for the second year running. In the same period, workers in Coventry received a real-terms pay cut of 8 per cent. An estimated 75 per cent of them cannot afford to pay their household bills, and many are trapped in high-interest debt. In 2020, Bezos’s personal wealth soared by more than £57 billion, enough to give every Amazon worker on the planet a bonus of £38,000.
