Today’s US jobs report calmed nerves but there are still some dark clouds on the horizon. Business Insider today reports that Amazon has frozen its hiring budget for its main retail business, citing internal emails.
The changes only apply to corporate employees, not those working in warehouses or the cloud computing division. However it does apply to Amazon’s online marketplace, its logistics arm and grocery business.
According to BI:
The company doubled its workforce to 1.6 million from 2019 to 2021, but
that number dipped to 1.55 million last year. Amazon has cut at least
27,000 employees since late 2022.
I wonder if this is a sign of the bigger economic picture: There aren’t layoffs but hiring stalls.
This article was written by Adam Button at www.forexlive.com.
