Amazon has put a temporary pause on hiring amid economic concerns!– OnMyWay Mobile App User News

Amazon announced it would pause new corporate hires.

In a message to staffers late Wednesday that was made public on Thursday, Beth Galetti, Amazon’s senior vice president of people experience, cited an “unusual macro-economic environment” as a reason for the decision, saying the company “wants to balance our hiring and investments with being thoughtful about this economy.”

Galetti told employees the company expects to keep the hiring freeze in place “for the next few months.”

Depending on the business, Galetti noted Amazon will hire backfills to replace employees who leave the company. In some areas, it will continue to hire people incrementally.

In the past few weeks, Amazon AMZN, -3.06% had paused hiring for the corporate side of its retail division and some of its other businesses. The company has also gotten rid of subsidiary fabric.om and shuttered its Amazon Care health service. Galetti said the Seattle-based retail and tech giant still intends to hire a “meaningful number of people” next year.

What Happened?

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 3.75% and 4%, its fourth 0.75% rate hike in five months.

The Fed said it will continue with its previously announced plan to let Treasury securities and agency debt and agency mortgage-backed securities roll off its balance sheet on a monthly basis.

“Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures,” the Fed said in a statement…Read More

According to data from Benzinga Pro, AMZN has a 52-week high of $188.11 and a 52-week low of $90.16.

Over the past five sessions, Apple’s stock has risen 0.16%, while Alphabet has fallen 5.7%, Amazon is down 17.0% and Meta has lost 7.6% over that period.

Despite Apple’s achievement, its market cap has fallen back from its $2.193 trillion value at the end of 2021. A series of headwinds — high inflation, rising interest rates, fears of recession and the Ukraine war among them — have meant tech stocks have struggled in 2022 as investors lost appetite for higher risk assets.

OVERVIEW

OnMyWay Is The #1 Distracted Driving Mobile App In The Nation!

OnMyWay, based in Charleston, SC, The Only Mobile App That Pays its Users Not to Text and Drive.

The #1 cause of death among young adults ages 16-27 is Car Accidents, with the majority related to Distracted Driving.

OnMyWay’s mission is to reverse this epidemic through positive rewards. Users get paid for every mile they do not text and drive and can refer their friends to get compensated for them as well.

The money earned can then be used for Cash Cards, Gift Cards, Travel Deals and Much, Much More….

The company also makes it a point to let users know that OnMyWay does NOT sell users data and only tracks them for purposes of providing a better experience while using the app.

The OnMyWay app is free to download and is currently available on both the App Store for iPhones and Google Play for Android @ OnMyWay; Drive Safe, Get Paid.

Download App Now – https://r.onmyway.com

Sponsors and advertisers can contact the company directly through their website @ www.onmyway.com

Icon

OnMyWay is the Only Texting and Driving Solution That Pays
Trusted and ❤ By Millions of OnMyWay Mobile App Users