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According to a person familiar with the matter, Amazon.com Inc. is freezing staffing in its profitable advertising business, suggesting that the world’s largest e-commerce company is taking more drastic measures to align costs with sales. slow down.
The person said the headcount freeze was announced internally on Tuesday, the person who requested anonymity said because the plans are private. Amazon will continue to fill vacancies in its advertising business, but will not create any new positions, the person said.
“Amazon continues to have a significant number of open roles across the company,” a spokesperson said in a statement. “We have many different businesses at different stages of development, and we hope to continue to refine our hiring strategies in each of these businesses at different times.”
The decision to keep the ad unit’s workforce at its current level shows that Amazon is looking to profit more from its fast-growing business during the busy holiday quarter. Chief Financial Officer Brian Olsavsky said in a media call last week that Amazon will continue to invest in its advertising division and cloud unit, Amazon Web Services, while also looking for locations. other to cut costs.
Amazon’s advertisement business — largely funded Search Results on its online store — generated $9.55 billion in the quarter ended September 30, up 25% from the same period a year earlier.
Shares of Amazon have fallen 13% since October 27, when the company forecast its slowest-ever revenue growth for the holiday quarter. CEO Andy Jassy has been busy reducing costs as sales have fallen to the peak of the pandemic. Amazon in October imposed a hiring freeze on the company’s retail roles business and has cut back and closed some pilot and smaller programs to keep costs down.
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Quote: Amazon freezes hiring in lucrative advertising business (2022, Nov. 2) retrieved Nov. 2, 2022 from https://techxplore.com/news/2022-11-amazon-hiring- profitable-advertising-business.html
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