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Amazon is slowing hiring for corporate roles in the retail business, according to a report from The New York Times on Tuesday.
The Seattle tech giant is slowing hiring plans amid a broader recession and high inflation. Others, including Google and Meta, have put the brakes on staffing increases.
Amazon won’t stop hiring for cloud computing roles, according to the NYT, which has seen a copy of an internal ad.
Amazon gets most of its revenue from retail, although Amazon Web Services is more profitable.
We’ve reached out to Amazon for more details and will update the story when we hear back.
Amazon Chief Executive Andy Jassy said earlier this year that the company was determined to control costs and return its consumer business to profitability after doubling capacity and hiring hundreds of thousands of workers to meet demand during the pandemic.
Amazon admitted in its first-quarter earnings report that it added more warehouse space than needed during the pandemic, costing it an extra $2 billion for the quarter.
In a statement on the company’s second quarter earnings report last July, Jassi said: “Despite continued inflationary pressures on fuel, energy and transportation costs, we are making progress on the more controlled costs we mentioned last quarter, particularly improving productivity.” Our full network.
Second-quarter revenue came in at $121.2 billion, up 7 percent year-over-year, topping Amazon’s guidance. It was also the same year-over-year growth rate in the first quarter — the slowest for Amazon in two decades.
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