Amazon Freezes Hiring As Consumer Spending Slows

E-commerce giant Amazon (AMZN) is freezing corporate hiring as consumer spending and its
online sales slow.

The Seattle-based company announced that it is halting recruitment until year’s end. The hiring
freeze mainly impacts corporate roles rather than the company’s warehouse network where
most of its employees work.

Amazon is the latest technology company to freeze hiring and institute cost control measures as
the global economy cools. Meta Platforms (META) last month announced plans to reduce its
headcount for the first time in its history.

Already this year, Amazon has closed, delayed, or abandoned plans for dozens of warehouses
in the U.S. and Europe as demand for online shopping wanes coming out of the pandemic.

Amazon has also reduced its workforce this year by about 100,000 positions, the biggest staff
cut in its history. Amazon currently has about 1.5 million full- and part-time workers globally.

Amazon stock is down nearly 30% this year and trading at $121.09 U.S. per share.