Retailers scale back hiring as worry about a slowdown grows – By Anne D’Innocenzio & Haleluya Hadero (AP Business) / July 7, 2022
NEW YORK (AP) — After going on a frenzied hiring spree for a year and a half to meet surging shopper demand, America’s retailers are starting to temper their recruiting.
The changing mindset comes as companies confront a pullback in consumer spending, the prospect of an economic downturn and surging labor costs. Some analysts suggest that merchants have also learned to do more with fewer workers.
The nation’s top employer, Walmart, said it recently over-hired because of a COVID-related staffing shortage and then reduced its head count through attrition. In April, Amazon said it, too, had decided that it had an excess of workers in its warehouses. And FedEx, whose customers include big retailers, said late last month that it was hiring fewer people.
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