Retailers Like Walmart and Macy's Are Hiring Fewer Holiday Workers This Year
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Hoping to scrounge up extra cash for the holidays? It might be harder to get a seasonal job this year as major companies brace for slower growth in sales.
Several retailers have recently announced they're pulling back on seasonal hiring, the annual recruitment of temporary workers in industries that get busy around the holidays (like merchandising and warehousing).
On Monday, Macy’s became the latest large retailer to announce a reduction, setting a target of 41,000 hires, down from 76,000 last year. Michaels said it is hiring for 15,000 seasonal positions, compared to 20,000 in 2021. And last week, Walmart said it's aiming to bring on about 40,000 workers this holiday season, a significant decrease from the target of 150,000 hires it set previously.
The reason? Folks are expected to feel "sticker shock" when they go shopping for holiday gifts because prices have risen with inflation, says Andrew Flowers, a labor economist for recruitment advertising company Appcast. Companies are concerned Americans will react to these price hikes by spending less money, impacting their bottom lines and reducing the need for extra staff.
