FAST FIVE: Amazon Reportedly Halts Corporate Hiring For Retail Business

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This could be even more evidence the labor market is cooling.  According to an internal memo obtained by The New York Times, Amazon recruiters have been instructed to halt all hiring for “corporate roles, including technology positions, globally in its Amazon stores business, which covers the company's retail and operations, and accounts for the bulk of Amazon's sales” by mid-month.

The memo stated that the company's cloud computing division wouldn't be impacted.

It said new job openings would be available until 1Q23.  And why would Amazon recruiters lie to job candidates that the company isn't in a hiring freeze, but according to an internal memo obtained by NYT, they are.

Perhaps this reflects a faltering consumer, battered by negative real wage growth, the highest inflation in decades, maxed out credit cards, and personal savings on empty.  Amazon's hiring freeze comes amid the threats of a recession because of the Federal Reserve's aggressive monetary tightening to combat inflation.

Meta and Google have been other big tech companies to pause hiring as the economic outlook remains cloudy.

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