Amazon Cutting 18,000 jobs, “Fedspeak “and 5% Rates, Tesla's China Slide, Silvergate Plunges on FTX Effect 1/5/23

Carl Quintanilla and Jim Cramer led off the show with a wide-ranging discussion about Amazon's plans to cut 18,000 jobs and how many more layoffs we might see in the tech sector. Wednesday night on CNBC, Jim urged Amazon to reduce headcount shortly before CEO Andy Jassy issued a memo to employees about the cuts. The anchors also reacted to comments from Kansas City Fed President Esther George, who told CNBC she sees interest rates above five percent until inflation is under control. Also in focus: Tesla shares fall on a slump in deliveries of its China-made vehicles, crypto-focused bank Silvergate Capital plummets after disclosing a plunge in deposits in wake of FTX's collapse, what to make of Wall Street's downgrade parade – and bright spots, plus Microsoft CEO Satya Nadella tells CNBC why he sees a "challenging" two years ahead for tech.