AMZN stock was trading lower at £120.14 as of 10:44 AM EDT.
Averaging $19 per hour, Amazon (NASDAQ:AMZN) said that it is employing 150,000 people across the United States for full-time, seasonal, and part-time positions in its operations network.
Jobs in the operations network are available in hundreds of American cities and towns and include stowing, picking, packaging, sorting, shipping customer orders, and more.
The year-end hiring freeze for corporate positions for the retail division was announced by a major retailer on Tuesday.
Target (NYSE:TGT) said that it would hire 100,000 new staff and continue promotions through the holiday season on September 22. Analysts had predicted the extended promotional period and identified Target’s high inventory levels as the main issue facing management. In actuality, the inventory problem played a significant role in Hedgeye designating the stock as a “top sell idea.”
Walmart (NYSE:WMT) said that it would be hiring about 40,000 people, primarily seasonal employees, on September 21. This is less than last year’s demand, which called for hiring some 150,000 permanent workers to work through the holidays and beyond. Hiring is being impacted by declining consumer demand, rising costs, and tighter household budgets.
To help with 2022’s holiday demand, on September 7, UPS (NYSE:UPS) revealed that it would be hiring over 100,000 people. The numbers are significantly higher than pre-pandemic levels. About 35% of those hired in recent years as seasonal package handlers were ultimately elevated to a permanent positions.
Wall Street analysts give AMZN stock a Strong Buy rating, as opposed to SA Quant’s Hold recommendation. Andy Jassy, the chief executive of Amazon (NASDAQ:AMZN), stated this month that his company is slowing down the pace at which it is adding new staff since the economic boom may have caused overexpansion.
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