Amazon will pause corporate hiring for months

Amazon will pause corporate hiring for months

CNN Business

Amazon is taking a hiatus from corporate hiring and expects to maintain that policy for months, the latest sign that even the biggest tech companies are reevaluating staffing in an uncertain economic climate.

The e-commerce giant has decided to institute a “pause in the new phased hiring of our corporate workforce,” according to Beth Galetti, Amazon’s senior vice president of human experience and technology.

, according to a memo to employees this week. The letter was shared on Amazon

‘s Web page on Thursday.

“We have already done this at several of our businesses in recent weeks and have added to this approach at other businesses,” Galetti wrote. “We anticipate maintaining this pause for the next several months and will continue to monitor what we see in the economy and business to adjust as we feel makes sense.”

Amazon will continue to fill in for some employees who are leaving for new opportunities, she said, “and there are some targeted positions where we will continue to hire people incrementally.”

Amazon saw its business boom during the pandemic, as more and more customers turned to shopping online. However, as pandemic restrictions eased, Amazon faced the twin challenges of more people returning to in-person shopping and a poor economic outlook weighing on consumer demand.

Late last week, Amazon forecast that its revenue for the holiday quarter would be lower than analysts expected, causing the stock to fall sharply. Amazon shares are down more than 45% this year.

In recent months, technology companies, including Google-parent AlphabetFacebook parent Target, Twitter and more they also announced plans to slow hiring and cut costs amid economic uncertainty.

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