The announcement, made Thursday, shows the e-commerce behemoth is taking a less conservative approach to its holiday planning than Walmart.
Ministers from Organization of the Petroleum Exporting Countries on Wednesday said they would cut oil production by 2 million barrels a day in a move that is expected to raise oil prices globally. President Biden said, "[he] is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine.
Amazon, which typically beefs up its operations during the holidays, was looking for the same number of seasonal employees last year. Its other competitors, UPS and Target, have said their holiday hiring plans will also remain in line with the prior year. Analysts expect the holiday shopping season to be impacted by the uncertain economic environment, as budget-conscious shoppers navigate higher prices for food and other necessities amid high inflation and rising interest rates.
To accommodate cash-strapped consumers expected to spread out their holiday shopping, retailers are offering more discounts - and doing it much earlier. Next week, Amazon will have itsof the year, the first time the company is holding a major sales event twice in one year following its Prime Day in July. Target and Walmart have said they’ll also offer deals this month.
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