AmazonThe world’s largest e-commerce company has joined the ranks of other companies that have suspended hiring due to deteriorating market conditions and the economy.
A number of companies are struggling as a result of the weakening economy. Many companies are fighting for survival as stocks and cryptocurrencies plummet in a prolonged bear market.
A number of companies are going bankrupt, others are laying off staff and some are laying off new hires. At the same time, Facebook and Instagram’s parent company, Meta, recently announced plans to stop hiring. The decision is in an effort to shift company priorities and cut costs. The latest company on the list is Amazon.
Amazon is pulling the strings when hiring
Amazon informed the decision to freeze the hiring of companies in an internal announcement. This adds the giant to the latest list of companies that have made the same decision amid mounting economic concerns.
In addition, the company informed recruiters in an email that it would no longer accept applications for corporate positions, including IT jobs, at its Amazon stores. It oversees the company’s retail and operations and generates most of Amazon’s revenue.
The decision to freeze hiring only applies to the corporate wing and not to the company’s cloud computing division. The email does not contain student recruitment and field positions.
“Amazon still has a significant number of open positions available across the company.” “We have many different companies in different stages of evolution and we expect to continue to adjust our hiring strategies in each of these companies at different times,” said Brad Glasser, an Amazon spokesperson in a statement..
The candidates whose interviews are scheduled for October 15 will receive an offer, but will not be able to start until next year. The slumping market and the troubled economy are taking their toll on several companies. In addition, it affects their profitability and long-term stability.