Amazon founder Jeff Bezos has some money-related advice for people

Amazon founder Jeff Bezos has advised people to keep their money safe and avoid unnecessary spending due to the looming recession. The advice came as the e-commerce giant laid off about 10,000 employees, including Indian techies.

Bezos was speaking in an interview with CNN wherein he said that consumers should wait before making a big purchase like a TV or refrigerator or automobile so that they don’t have to struggle during the economic recession.

“Take some risk off the table, keep some dry powder on hand… just a little bit of risk reduction could make the difference for that small business, if we do get into even more serious economic problems. You’ve got to play the probabilities a little bit,” Bezos noted