Amazon is taking a break from corporate hiring and expects to keep the policy in place for months, in the latest sign that even the biggest tech companies are rethinking employee hiring in an uncertain economic climate.
The e-commerce giant has decided to implement a “pause on incremental new hires across our corporate workforce,” Beth Galetti, Amazon’s senior vice president of people experience and technology, said in a memo to employees this week. The letter was shared on the Amazon website this Thursday (3).
“We had already done this in some of our businesses in recent weeks and added our other businesses to this approach,” Galetti wrote. “We anticipate maintaining this pause for the next few months and will continue to monitor what we are seeing in the economy and business to adjust as we think it makes sense.”
Amazon will continue to hire backfills for some employees who leave for new opportunities, she said, “and there are some targeted places where we will continue to hire people incrementally.”
Amazon has seen its business grow during the pandemic as more customers turn to online shopping. But as pandemic restrictions eased, however, Amazon has had to face the dual challenges of more people returning to in-person shopping and a sour economic outlook weighing on consumer demand.
Late last week, Amazon predicted its revenue for the holiday quarter would be lower than analysts had expected, causing its stock to fall sharply. Amazon shares are down more than 45% this year.
In recent months, tech companies including Alphabet, parent of Google, Meta, Twitter, parent of Facebook, among others, have also announced plans to slow hiring and cut costs amid economic uncertainty.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
