Although the coronavirus pandemic is costing Amazon billions of dollars, it's also saved the company millions in travel and marketing.call on Thursday, chief financial officer Brian Olsavsky laid out how the company's spending has changed during the pandemic — including a major reduction in internal travel expenses.
He said he expects travel to resume "at a later date," but that Amazon may not spend at "the same levels as the past." "But certainly there was not a lot of need to do marketing this year for parts of the year," Olsavsky said. "There's productivity drags for things like new hire ramps, social distancing, extended break periods — things that we can quantify and say, this is a change in our process that has hurt productivity," Olsavsky said.
It is unfortunate that companies today spend less on risk forecasting, financial and tax optimization, and asset protection than on travel. However, this does not take long to take a big toll on them.
No company, not even those that have benefited from the crisis, is prepared to face a crisis. The worst thing is that to mitigate the effects of this crisis they continue to use the same useless methods over and over again.
phew, so glad to hear amazon has saved millions
horrible
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