Amazon is laying off nearly 14,000 managers to save billions, while the US takes steps to control popular Chinese e-platforms

For today's news: Amazon plans to lay off nearly 14,000 managers as part of a strategy to save billions. Meanwhile, the U.S. is implementing measures to regulate popular Chinese e-commerce platforms to address concerns over competition and security. These actions highlight a shift in both corporate strategy and national policy in response to changing market dynamics.

> Amazon is considering laying off around 14,000 managers as part of a broader effort to reduce its managerial staff and streamline operations. CEO Andy Jassy aims to increase the ratio of individual contributors to managers by 15% by early 2025, with potential cost savings of $2.1 billion to $3.6 billion. A Morgan Stanley analysis estimates that Amazon could eliminate approximately 13,834 managerial positions, reducing its global manager count from 105,770 to 91,936. Despite these layoffs, Amazon is hiring 250,000 seasonal and full-time employees in the U.S. for the holiday season.

> The Biden administration is proposing changes to the "de minimis" trade law, which currently allows imports under $800 to bypass taxes and tariffs, a policy often used by Chinese e-commerce platforms like Shein and Temu. If the rule goes into effect, these platforms would face new import fees, potentially raising prices for U.S. consumers by 15% to 25%. Gen Z, which makes up a significant portion of Shein and Temu's customer base, could be most affected by the price increases. Both companies are expected to adapt, possibly by warehousing more goods in the U.S. or sharing some of the import fee burden with customers.

> The average rate on a 30-year fixed mortgage rose to 6.53% after a strong jobs report, a 27 basis point increase. This is 42 basis points higher than mid-September, despite the Federal Reserve's rate cut, as mortgage rates loosely follow U.S. Treasury yields. The jobs report shifts expectations slightly, with many anticipating that mortgage rates would decrease, but this news could keep rates higher in the short term. While the Mortgage Bankers Association predicts rates will stay around 6% over the next year, rising home prices and low inventory are keeping the housing market tight despite lower rates compared to last year.

When starting a home business, it's best to use a proven model, like importing popular products in bulk and selling them individually for profit. Key strategies include finding trending products, negotiating deals with wholesalers, and creating an online store to reach customers. Successful product sourcing involves analyzing social media trends, importing foreign market favorites, or targeting niche markets. Additionally, using your home as a showroom, as Milicent Armstrong of Artemis Design Co. did, can help customers browse and boost sales.

Emily Roberts, a 25-year-old mum from Swansea, made nearly £10,000 in six months by selling homemade marshmallows, a hobby she started while on maternity leave. Initially making the treats for fun, she began selling them at local markets where they quickly became a hit, leading her to leave her retail job to focus on her marshmallow business full-time. Despite not yet taking a wage, she is expanding by attending markets across the UK and setting up an online store. Roberts advises aspiring entrepreneurs to pursue their passions wholeheartedly, as she believes this is key to her success.

> To improve workflow and productivity, five strategies are recommended: 1) Automate repetitive tasks using tools like Zapier or IFTTT to save time and reduce errors. 2) Use agile project management methods with platforms like Trello to improve flexibility and collaboration. 3) Foster transparent communication with tools like Slack to keep team members aligned. 4) Streamline document management by using centralized systems like Google Drive. 5) Continuously evaluate and iterate workflows, seeking team feedback to optimize processes and adapt to changing needs. For the best support/partners for efficient workflow, check here. 

> Nick Huber's recent post highlights the growing trend of outsourcing, with countries like the Philippines and Latin America offering highly skilled, low-cost labor. Thanks to AI advancements, workers from these regions can perform tasks as effectively as American employees for a fraction of the cost. This shift poses significant challenges for U.S. workers, particularly remote employees, who face increasing competition. Huber emphasizes that businesses using outsourcing as a "cheat code" can significantly boost productivity and profitability, leaving American workers at risk unless they adapt.

> A rich retirement is often achieved through patient investing, diversified portfolios, and multiple income streams. A Northwestern Mutual study shows Americans feel they need $1.46 million to retire comfortably, while the top 10% of retirees require $1.9 million or more. These wealthy retirees replace work income with diversified streams like pensions, stock dividends, and rental properties. They maintain a balanced investment approach, avoid relying solely on Social Security, and often relocate to lower-cost areas to maximize their retirement lifestyle.