🌎 Amazon layoffs, pt. 2

Plus: The other losers in the Credit Suisse debacle Was this newsletter forwarded to you? [Sign up here](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/nD4x0Z0_smDH_8BeuMSCO6Hd9ObgLyrVSQ0vHMa9KX8=293) [Quartz](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850246865%2Famazon-layoffs-pt%2F/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/YBsEHHGO-3Z7HRFHd3Rib695g9eoEqa3ivi4xqtg4h4=293) March 21, 2023 [View in browser](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850246865%2Famazon-layoffs-pt%2F/2/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/mCAtlFoYoAtnzi7snpqA9_Nxl1hexemkzt9RyvNuaUg=293) Good morning, Quartz readers! Here’s what you need to know Amazon is laying off another 9,000 employees. The cuts will affect the e-commerce giant’s [cloud and advertising businesses](%2F%2Fqz.com%2Famazon-meta-twitter-tech-industry-layoffs-downsizing-1850245076%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/188XRZddZF2N5eVn_uMFg30ZLcVfxyVWY58R81bNz8c=293), and come after 18,000 workers [were laid off](%2F%2Fqz.com%2Famazon-18000-jobs-tech-layoffs-salesforce-1849952385%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/9sKS4_0u6gRGy8XeAEeL74pDifDtlbrSBvtFfleF4RA=293) earlier this year. Texas targeted HSBC in its anti-ESG crusade. On the day US president Joe Biden first [used his veto power](%2F%2Fqz.com%2Fbidens-first-veto-could-be-over-an-anti-esg-bill-1850181235%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/IWZ2XIu6DhPJtvsevCotXmZU_O8K6xQ-j3dnWImI8Hw=293) to defend ESG investing, Texas declared [HSBC bank](%2F%2Fqz.com%2Ftexas-hsbc-blacklist-oil-gas-funding-esg-policy-veto-1850246851%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=%26rev=1679393106897/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/knxWizzLqJkZq6Gm5R1n6dLecgFxUGr0K4PMYLmwVmI=293)[non grata](%2F%2Fqz.com%2Ftexas-hsbc-blacklist-oil-gas-funding-esg-policy-veto-1850246851%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=%26rev=1679393106897/2/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/5nVisB_h83076rpGGr8KxHLPu-kl3iDoTQVniO3Y-Ic=293) over its recent (and arguably belated) commitment to stop funding new fossil fuel projects. Starbucks got a new CEO ahead of schedule. We knew Laxman Narasimhan was on deck, but we didn’t know Howard Schultz would step down two weeks early, leaving [a grande legacy](%2F%2Fqz.com%2Fstarbucks-ceo-howard-schultz-laxman-narasimhan-2023-1850243031%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/3i_dscvZ1D_jjJJe1xFA5bWDFtfLW71LmyYjM-mIQ3E=293) in his wake. Venezuela’s oil chief made a sudden exit. Tareck El Aissami’s departure followed the arrest of top executives at the [state-owned oil company PDVSA](%2F%2Fqz.com%2Fvenezuela-el-aissami-resignation-oil-corruption-maduro-1850246891%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/jfezXcJ3cJ_Yzz3vWktbsJ-X0XTrJrQQOY5V4L84oTg=293), as part of a corruption investigation. The other losers in the Credit Suisse debacle When a bank—let’s say Credit Suisse—sells over a weekend to another bank, and that deal is worth only 60% of the first bank’s value at market close on Friday… you’re going to have shareholders counting their losses. Credit Suisse’s largest shareholder, Saudi National Bank, has had to say good-bye to $1.2 billion. And it’s [not the only one](%2F%2Fqz.com%2Fcredit-suisse-biggest-losers-shareholders-ubs-takeover-1850242803%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/CYl966hxB73MVPT1wQ97qIZu_673o6iG8ddVnFUhroc=293) taking stock of its stock after the UBS takeover. [A line chart showing Saudi National Bank's stock from January 2021 to January 2023. There's a big dip after the fall of 2022. ](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850246865%2Famazon-layoffs-pt%2F/3/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/rKta4RDDQuwe968JMQFX9UnanTSkUZxaURoQ8DVFROs=293) Graphic: (Clarisa Diaz) The IPCC tried on a little climate positivity for size “Our world needs climate action on all fronts—everything, everywhere, all at once.” —UN secretary-general António Guterres in a speech yesterday, nodding to the title of the most recent [Oscar Best Picture winner](%2F%2Fqz.com%2Feverything-everywhere-all-at-once-won-all-the-oscars-ac-1850218256%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/ktJDFZk8tUBEOWL0gBlJ_8moJfwgUlcOmo5pQppTXek=293), when discussing a new Intergovernmental Panel on Climate Change report that was [less doom and gloom than usual](%2F%2Fqz.com%2Fipcc-report-climate-change-solutions-1850243551%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/r8QLvFJGyxHbtwJVhEaXx50FiFnzvp6o4JzRBNOdEEM=293). A surprising consequence of the pandemic Let me get this straight: The pandemic made us nice? That dismal era?? The World Happiness Report found that despite the [obvious misery that covid inflicted](%2F%2Fqz.com%2F2185883%2Fcovid-killed-30000-middle-age-people-in-2021%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/ChEbFuuddqzCMmcodKGlulCrWQOOFqkFN745Cn2vtz4=293), it also appears that people [treated one another better](%2F%2Fqz.com%2Fthe-pandemic-made-us-nicer-and-the-change-might-be-last-1850242992%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/W79VSn6g5HdDSVc8VtoC0eZeHPKqdKeq3arm5Sv4h0A=293) during the crisis than before. A similar uptick in kindness is playing out in Ukraine right now because of the war, [but definitely not in Russia](%2F%2Fqz.com%2Fa-happiness-survey-found-that-acts-of-kindness-rose-in-1850243102%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/kCLUAwjzC_R78ZagyQ8-wz-iHkIOMCyX_mr9xNS-iAU=293). And we appreciate your own kindness in humoring our not-great haikus during [World Poetry Day](%2F%2Fwww.unesco.org%2Fen%2Fworld-poetry-day/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/a28hvqMOE5Fw3eip5sid8IAwmwPrwApnK0qipHUMBVg=293). 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Water conservation means a lot of [dirt and stones](%2F%2Fwww.france24.com%2Fen%2Flive-news%2F20230320-from-greens-to-browns-burkina-faso-s-eco-friendly-golf-course/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/8kx-0H_vs4dSs_czN399y8vTMjwB2gZcnvNrin11XNc=293). Feeding peanut butter to babies can drastically reduce their risk of becoming allergic to it. But the [window of opportunity](%2F%2Fnews.sky.com%2Fstory%2Fgive-peanut-butter-to-babies-to-cut-allergy-rates-by-77-scientists-say-12836230/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/zzS_hJGX8T4xJxG8hcWAk5fE4zsT-T0wmhMcMVJ8A20=293) is only between 4 and 6 months old. Gangs are blowing up ATMs in Germany to get cash. The flagrant cash grab happened nearly [500 times](%2F%2Fapnews.com%2Farticle%2Fgermany-cash-machines-atm-explosions-fd6aa4ebcbc64e0c0c8962a21b2b1a91/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/3mgDnH4XjgbFVgdZkNPO2QHK3ZprvfnUmh_GYsFVN7A=293) last year. The Australian Outback has millions of rotting fish. Floods and hot weather led to a major die-off, creating an olfactory disaster as well as a “[logistical nightmare](%2F%2Fapnews.com%2Farticle%2Fdead-fish-australia-river-8cf09f1b59b20920de86c362f3542eb2/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/lQUy3saX-Zvd064qRDIviNwO9XUNbmwh5xT3TMwHlWs=293).” America’s digital medical data revolution is thanks to one woman. Judy Faulkner founded Epic—the maker of MyChart—in her basement. Now, it handles [the health records of 200 million Americans](%2F%2Fqz.com%2Fmychart-electronic-medical-records-health-1850234813%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/twY7JkL_kHi54I5huifgFHu3wpQmYZLe5BKYOfbIwjU=293). 🎧 Listen to “Your Chart: A body of information,” the latest episode of the Quartz Obsession podcast on: [Apple Podcasts](%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Fquartz-obsession%2Fid1587735076/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/0pBP8VPeCpLtnmlo7VtbruLI8QRc7OCKi5qoLstoZKE=293) | [Spotify](%2F%2Fopen.spotify.com%2Fshow%2F6yEQvRgukZ7LJGdGXNi1BT/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/IhuWCbQOHiz9k-mREPBP0ZqsrxYOXxD_H0o6YWs0UFU=293) | [Google](%2F%2Fpodcasts.google.com%2Ffeed%2FaHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vcXVhcnR6b2JzZXNzaW9ucG9kY2FzdA/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/k4BzoilJTSfkcILPTPStZel2FwCB1M3FEwHO-2p0La8=293) | [Stitcher](%2F%2Fwww.stitcher.com%2Fshow%2Fquartz-obsession/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/Zd3lq3wsyzXjbVvLZDKlC7ScDJH99n-w94Qb6KkD9Y0=293) 👀 Or, check out [the transcript](%2F%2Fqz.com%2Fdigital-medical-records-us-healthcare-epic-1850234935%2F%3Futm_source=email%26utm_medium=daily-brief%26utm_content=/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/KKlCNdXOLEe9FWQurMJC8IRVWgfPkPVWjtrON9IIF8Y=293)! Our best wishes for a productive day. Send any news, comments, creamy peanut butter, and nose plugs to hi@qz.com. Reader support makes Quartz available to all—[become a member](%2F%2Fqz.com%2Fsubscribe%2F/1/0100018703d3a54d-c0cbf368-b3bf-4e47-89cc-820e1f7f7603-000000/Zu8mJjwVeF_DBfWDF-BxFFFXEd6BKmRHYD7gUP1OwB4=293). Today’s Daily Brief was brought to you by Sofia Lotto Persio, Morgan Haefner and Susan Howson. 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