(NASDAQ:AMZN) – Amazon Looks To Pull Brakes On Hiring To Trim Pandemic Induced Fluff

  • Inc AMZN chief Andy Jassy acknowledged slowing down the hiring rate citing pandemic-induced overexpansion, the Wall Street Journal reports.
  • Amazon looks to scale back following a massive hiring spree to contain customer demand, primarily in its fulfillment networks.
  • Amazon reported slowing sales and the second quarter of net loss in Q2 as it faced continued weakness in its retail operations after a pandemic boom.
  • Jassy has been working on cutting back on the excesses of the company’s breakneck expansion of its e-commerce operation during the pandemic since he succeeded Jeff Bezos.
  • Amazon attempted to shed some warehouse space by subletting it out and deferring the construction of new warehouses. It also closed down many of the company’s brick-and-mortar retail stores.
  • Amazon sought additional revenue in healthcare beyond its e-commerce and cloud computing services businesses.
  • Amazon saw a growing workforce joining unions in quest of better pay and workplace conditions.
  • Tech giants, including Alphabet Inc GOOG GOOGL Google, and Meta Platforms Inc META, looked to downsize the workforce lest they fail to meet the standards.
  • Price Action: AMZN shares traded higher by 0.02% at $129.50 in the premarket on the last check Friday.
  • Photo via Wikimedia Commons

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