🎣 Warrants Served
Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
As 2023 seasonal hiring gets underway, some retailers are cutting back on workers while others are hiring more.
U.S. retailers are bracing for a less bountiful holiday hiring spree. Compared to the more optimistic numbers of the past, this year's forecast is somber. According to Challenger, Gray & Christmas, retailers are slated to onboard only 410,000 seasonal staffers, the lowest since the recession-hit 2008. Key insights to note:
These patterns reflect broader market concerns: rising costs and wavering consumer confidence. Specifically, Target and Home Depot anticipate a trend where customers lean more towards essentials rather than splurges, pointing at inflation's bite into household budgets. Meanwhile, UPS, historically known to hire 100,000 seasonal workers, remains tight-lipped, presumably due to ongoing union negotiations.
Sources: Reuters | Scripps News
$PYPL $AMZN
— Crossroads (@Kross_Roads) September 20, 2023
Amazon is hiring 250k seasonal workers, higher than last year (their highest number ever) which is very bullish for the holiday season.
Though Amazon doesn't use PayPal, a stronger than expected retail season will boost the stock in Q4.https://t.co/kns5NFFxtB pic.twitter.com/vhofxY4hwY
Join over 10K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe now & be sure to check your inbox to confirm (and your spam folder just in case).