Amazon pauses corporate hiring over economy concerns
Amazon has decided to halt ‘new incremental hires’ for the entire corporate workforce for a few months.
Amazon is pausing hiring for its corporate workforce, the latest move by the company to cut costs amid worries about the wider economic environment.
Company executives have decided to halt “new incremental hires” for the entire corporate workforce and anticipate the pause to be in place for a few months, Beth Galetti, the senior vice president of people experience and technology, said in a memo posted on Amazon’s website on Thursday.
The company “will continue to monitor what we’re seeing in the economy and the business to adjust as we think makes sense”, Galetti said. “We’re facing an unusual macro-economic environment, and want to balance our hiring and investments with being thoughtful about this economy.”
Depending on the business, Galetti noted Amazon will hire backfills to replace employees who leave the company. In some areas, it will continue to hire people incrementally.
In the past few weeks, Amazon had paused hiring for the corporate side of its retail division and some of its other businesses. The company has also gotten rid of its subsidiary fabric.com and shuttered its Amazon Care health service. Galetti said the Seattle-based retail and tech giant still intends to hire a “meaningful number of people” next year.
Technology companies, crypto exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to higher interest rates and red-hot inflation. Tech giants Meta, Apple and Twitter, too, have announced hiring freezes in recent weeks on account of economic uncertainty.