Amazon shrinks workforce by 100,000 as hiring freezes and layoffs hit the tech sector
With recession fears mounting — and inflation, the war in Ukraine and the lingering pandemic taking a toll — many tech companies are rethinking their staffing needs, with some of them instituting hiring freezes, rescinding offers and making rounds of layoffs.
Amazon.com Inc. was one of the latest company to discuss its belt-tightening efforts this week. During its quarterly earnings call Thursday, the e-commerce giant said it’s been adding jobs at the slowest rate since 2019. After relying on attrition to winnow its staff, Amazon now has about 100,000 fewer employees than in the previous quarter.
Related: Americans opened 233 million new credit card accounts in the April-June period, the most since 2008.
Rasmussen Reports: 62% now believe that the economy is in recession, including nearly half of Democrats.