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Amazon is pausing hiring in its booming advertising division.
The e-commerce giant is taking more dramatic measures to match expenses with slow sales, a source said about the move.
The freeze in staffing levels was announced internally on Tuesday, November 1.
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Amazon will reportedly continue filling vacancies in its advertising division but will not add any new positions.
A spokesperson said: “Amazon continues to have a significant number of open roles available across the company.
“We have many different businesses at various stages of evolution, and we expect to keep adjusting our hiring strategies in each of these businesses at various junctures.”
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This plan to maintain the current workforce level in the advertising unit indicates Amazon’s efforts to generate more profit out of its flourishing business in the peak season.
CFO Brian Olsavsky said Amazon will keep investing in its advertising unit as well as its cloud computing division, Amazon Web Services.
However, it is exploring additional areas to reduce expenses.
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Amazon shares have fallen 13 percent since October 27, when the firm forecasted the worst revenue growth in its history for the Christmas quarter.
In the face of sales that have fallen from pandemic highs, CEO Andy Jassy has been busy cutting expenses.
Amazon announced a hiring block on corporate roles in its retail operations in October.
To save resources, it has eliminated and shut down some experimental and smaller projects.
Source: Bloomberg
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