Amazon’s advertising unit is freezing its headcount as the company deals with economic headwinds impacting the industry.
Amazon delivered weaker-than-expected fourth-quarter guidance, an indication the company is struggling with the economic uncertainties and challenges facing the tech industry at large.
According to Bloomberg, by way of Business Insider, Amazon will continue to fill existing roles but will not create any new jobs within the advertising unit. Amazon did not confirm the news, only telling Bloomberg there were a “significant number of open roles” available.
“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,” the spokesperson added.
The move to freeze advertising headcount is especially significant since the unit is one of the company’s fastest-growing divisions and is in third place behind Google and Meta. The measure is evidence of the steps Amazon’s execs are willing to take in order to cut costs and increase profitability.