Amazon is taking a break from corporate hiring for through the remainder of 2022 in its retail businesses due to a rough economic forecast.
The company's execs confirm that the ongoing economic drop is forcing them to pause all workforce acquisition efforts in retail and operations, The Verge writes.
Amazon Has Already Begun Slowing Down Their Hiring
In an internal memo released by the company's recruiters, potential job candidates were advised that Amazon is calling a pause in hiring for any position.
This includes corporate and technology positions in retail and operation, with the exemptions of the cloud computing division, student hiring, and warehouse and field positions.
Amazon's SVP of People Experience and Technology Beth Galetti says that the move was executed as the company faces an imbalance in their hiring and investments.
She believes that by focusing on the people and teams the retail giant has currently, they can curb the effects of economic challenges to their business.
According to Tech Crunch, CEO Andy Jassy even noted that companies would always think about long-term plans in order to adapt to economic push and pulls.
Despite the notice of a hiring freeze, those who have interviewed for Amazon before October 15 should still be eligible to receive offers.
However, these jobs will not start until 2023 as the multibillion company adjusts through the stages of evolution Amazon is undergoing at the moment.
This hiring freeze came after the retail company chose to sit out its annual career day in September, where there would normally be 10,000 positions open for over 1..5 million global employees.
It is also a response to the company's slowest growth in over two decades, which also forced them to stop all warehouse expansions, and close other facilities, according to The Verge.
With this recent hiring free, Amazon joins other top tech companies like Meta in a growing list of those to slow down hiring efforts in order to cut costs.
Amazon Follows Huge Companies In Cutting Back On Hiring
Tech companies have been facing a collapse in the industry recently, which causes price inflations that make cutting back on workforce the quick fix.
Even before Amazon announced that it is putting its hiring to a stop until the end of the year, Lyft, a ride-hailing company, already let go of 13% of its staff.
Elon Musk, who only recently bought Twitter, also wants to eliminate employees of the social networking business, according to Fortune.
Intel Corp. is also terminating jobs to cut costs in an effort to save up to $3 billion in 2023, and $10 by 2025.
This wave of layoffs are reportedly caused by tough economic times, signaling that the retail and consumer economies are shifting.
Prior to this recent hiring freeze, it is notable that in October of the same year, Amazon also froze member acquisition in its web services division.
