I work for Amazon - for a decade. I love it - best job I've ever had. And historically, while it's been a tough place to work, we've always been able to attract top talent. Partially - impactful work. Partially - stock doubles every year.
Well guess what happened in 2020/2021? Despite incredible perseverance through the Pandemic, the stock stopped doubling.
Meanwhile, Microsoft, Meta, and others figured out that they can poach our engineers with a promise of way more base salary, and a less intense work environment.
We've had SDE1s (Juniors) leave Amazon for Meta because they got more money than our SDE3s (Seniors) were getting.
SDE2s (Intermediate) looked at their status quo thought "I COULD bust my ass and get promoted to Senior...or I could go to Microsoft TODAY, get a Senior offer for what I'm already doing, and for more money than my raise would be". (No offense to any of my friends at Microsoft, but https://www.levels.fyi/?compare=Amazon,Microsoft&track=Softw... doesn't lie)
I've talked to a few acquaintances that have left and the universal responses is: "My job is so boring now. I miss Amazon. But It's not stressful (because there is no pressure on me), and I get paid more money".
How can anyone think there is anything wrong with that? You can't. You can speak about Mission and Impact, and some engineers will be attracted to that - I work on building Forever APIs in the AWS Cloud that gets millions of transactions per second. That to me is WAY more interesting than working on Chat app 15/18.
But for most people they just want to make money and live their lives. Fair enough!
The result? Even though Amazon has adapted somewhat by bumping salaries, they've still lost an ocean of people to nothing particularly ambitious or interesting. They're being parked by Microsoft/Google/Facebook to work on boring unimpactful projects so they can't help Amazon kick their asses.
Sometimes one way to make your house nicer is by breaking the windows in the neighbor's house.