A “record” of 384,000 people applied for jobs on Amazon Career Day: Has the online retail juggernaut become too big and too powerful?

Amazon announced earlier this week that it would be hosting a Employment day September 16. Career Day planned to include a team of recruiters from Amazon, offer career coaching sessions, and look to hire people for white-collar, tech, and a range of other positions. Compensation for these roles averages approximately $ 150,000, along with stock compensation and benefits.

Beth Galetti, senior vice president of human resources at Amazon, said of the event: “Our vision for Career Day was to help job seekers from all walks of life and at all stages of their career. career to achieve their professional goals, using our ladder to support those in need. the most. ”Galletti added,“ We ​​have tens of thousands of jobs available, from roles in finance, robotics, software development or AI, to entry-level positions with very competitive pay and benefits. across our entire operating network.

On Thursday, the online sales giant shared the astonishing results of its Career Day. “Over 300,000 people attended Amazon’s Career Day “and” a record 384,000 people applied for jobs at Amazon in the United States and Canada. Remarkably, in just 24 hours, “Amazon recruiters completed over 20,000 job sessions. One-on-one career coaching with attendees, and another 6,000 people joined in breakout sessions. ”Over 3,600 people participated in coding-related workshops led by Amazon software development engineers. Approximately 2,600 Participants participated in small group sessions designed for job seekers looking for hourly positions in distribution centers and company stores.

It’s amazing that Amazon has the technical prowess to host such a massive online event. The company is an unstoppable juggernaut. While many retailers were forced to shut down or downsize during the Covid-19 lockdown, Amazon has thrived. The online company has diverted the lion’s share of shoppers from physical stores as people feared going out. His business exploded. The company’s stock price skyrocketed, and CEO Jeff Bezos briefly became the $ 200 billion man.

Amidst the stellar numbers touted by Amazon, there’s a dark underside. The good numbers for Amazon reflect the bad numbers for the country. More than 60 million Americans have filed for unemployment since mid-March, when the epidemic began to erupt in the United States. As a result of massive holidays, layoffs and business bankruptcies, people are desperate for jobs. Many professionals who have a job have a deadly fear of losing it. A large percentage of Americans are in positions well below their experience and education level just to make ends meet.

Owners of small and medium-sized businesses have seen their fortunes collapse or have been forced to close their doors. Iconic American companies, such as JC Penney, Neiman Marcus, J. Crew, Brooks Brothers, Lord & Taylor, the parent company of Ann Taylor, Loft, Lane Bryant and Catherines stores, Tailored Brands (which owns Men’s Wearhouse and Jos. A . Bank), Century 21, Pier 1 and many others, have filed for bankruptcybecause they were unable to compete with Amazon.

Amazon has around 900,000 employees and continues to grow, while its competition shrinks considerably. Amazon offers a wide choice of products. Its website is user-friendly. The company delivers goods quickly and efficiently. Wonderfully intelligent and creative people work there. The company offers tremendous value to consumers.

However, for all of Amazon’s fantastic qualities, how perilous is it for America to have such a powerful company that has the capacity to crush almost any rival in its path? What happens when all small, mid-size and niche retailers start going out of business?

We will only be left with a few survivors, such as Walmart and Target. With little competition and a market dominated by a few omnipotent companies, how long will it take them to raise prices and take advantage of their oligarchy?

With Amazon and a small number of other retailers dominating the market and millions of people without jobs, it’s only a matter of time before wages drop and employee expectations rise dramatically. Workers will have to comply with the dictates of big business, because there will not be too many options for people.

It’s not just Amazon. Microsoft, Google, Netflix, Apple and Facebook dominate their respective industries. We have built an economy based somewhat on the Pareto principle, where a small percentage of companies control the vast majority of business, earn the most money, and exercise the greatest control. This raises serious questions and concerns for our future that must be addressed before it is too late.