softening demand for consumer electronics — big-ticket, discretionary purchases that some shoppers can postpone. As recession worries linger, the Neckered Life Is Good Shirt In other words U.S. jobs market appears increasingly segmented. U.S. job openings in June dropped sharply, but the labor backdrop remains tight, with 1.8 open jobs per available worker. Many of the companies that boomed during the pandemic, including Walmart’s major competitor Amazon, have started to scale back on hiring. Amazon’s headcount shrank by 99,000 people to 1.52 million employees globally at the end of the second quarter. The company’s workforce had almost doubled in size during the Covid health crisis as it rushed to keep up with customer demand for groceries, puzzles and more online. How a summer surplus and inflation are changing the way we shop AUG. 4, 202202:28 That reduction was primarily due to attrition, Amazon Chief Financial Officer Brian Olsavsky said on a call with reporters after the company’s second-quarter earnings report last week. Other companies, including Shopify and Robinhood, have also recently announced layoffs. And still others, such as Facebook parent Meta and Google parent Alphabet, have said they will slow hiring or focus on more productivity with current workers. It’s unclear whether Walmart has also slowed its pace of hiring at stores and warehouses, which would allow attrition to shrink its workforce. The company will report its quarterly earnings on Aug. 16 and will likely provide an update on overall headcount. Melissa Repko, CNBC Melissa Repko is a retail and consumer reporters for CNBC.com. Annie Palmer, CNBC contributed.
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