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The jobs AmEx is planning to refill are available for doing remotely, as the company is flexible about the way the staff is performing their duties. Even after the Covid-19 pandemic was over, 40% of AmEx employees chose to work fully online.
The American Express Company, also known as AmEx (NYSE: AXP), is looking to hire as many as 1,500 new employees to fill tech positions by the end of this year. The company is now recruiting data scientists, software engineers, coders, and developers. So far, AmEx has already brought about 3,600 tech employees this year.
The hiring spree takes place amid concerns about the economic slowdown in the US. And while other companies are looking for ways to cut expenses and reduce headcount, AmEx has been taking advantage of the moderate inflation level.
AmEx chief information officer Ravi Radhakrishnan said:
“It is without a doubt a challenging environment to recruit technical talent. The war for talent is a true consideration.”
The jobs AmEx is planning to refill are available for doing remotely, as the company is flexible about the way the staff is performing their duties. Even after the covid-19 pandemic was over, 40% of AmEx employees chose to work fully online.
Ravi Radhakrishnan explained:
“There’s a lot of talent that wants to understand how we approach flexibility. It’s not just the flexibility that we offer – the option to be virtual, in-person, or hybrid. It’s combining it with purpose. We do that. We ask people to work with their leaders to determine the purpose for coming in.”
As Ravi Radhakrishnan has stated, nearly 60% of the hires will be in America, with about a third in India and the rest in Europe. As of last year, the company had 64,000 employees, and as many as 22,000 of them were based in the United States.
Unemployment Level in the US
In August, the unemployment rate in the US rose by 0.2 percent to 3.7 percent, while the number of unemployed people increased by 344,000 to 6.0 million. In July, these measures reached their levels in February 2020, prior to the coronavirus pandemic.
The increase in the unemployment rate to a six-month high came as nearly 800,000 people entered the labor market, driving the size of the labor force to a record high. The boost in hiring that took place last month was led by the professional and business services industry, which added 68,000 jobs. Healthcare payrolls increased by 48,000 jobs. Further, the employment levels in the retail trade sector rose by 44,000 positions, while manufacturing added 22,000 jobs. Construction employment rose by as many as 16,000 jobs.
According to Daniel Zhao, senior economist at Glassdoor, the job market is pushing ahead, despite a rising tide of recession fears. And despite some high-profile cases of layoffs, analysts agree that job cuts are not a trend.