Gloomy Economic Indicators, Technology Companies Forced to Hire Less


 'The economic outlook is bad so companies have to take drastic measures to survive.'

A string of jumps in interest rates and weakness in consumer spending, Apple Inc and Inc are among the United States (US) technology companies that have been forced to stop hiring.

According to Amazon's senior vice president of User Experience and Technology, Beth Galetti, the company will freeze the hiring process to make room to adjust to the current 'macroeconomic environment'.

He added that the company will carry out the recruitment process regularly and only 'necessary' for next year.

Also taking similar action, Apple is understood to be stopping hiring in all areas except the development and research office to cut costs heading into next year.

The matter has been predicted by the market based on the company's corporate income report which underlines that growth will weaken in the winter, which is the last quarter of this year.

Through the company's official statement, Apple will continue hiring but 'based on the current economic situation' there will be many changes made to streamline its business.

In general, technology companies are now actively laying off or freezing employees due to economic uncertainty that not only affects the growth of the company but also the country.

In addition to Apple and Amazon, Twitter, which was recently bought by Elon Musk, also experienced mass layoffs and even companies from other sectors such as Lyft Inc, Chime Financial Inc and Stripe Inc also did the same.