MercadoLibre dodges the wave of layoffs in the sector and adds 13,000 jobs

2023-04-20 19:03:00

MercadoLibre Incthe largest e-commerce company in Latin Americaplans to add thousands of jobs this year as we expandExpand your logistics businesseven as global tech companies cut jobs and growth slows in the region.

The company will hire 13.000 personaswhich will bring its total workforce to 53,000, in a bet that online orders will continue to grow, he said Sebastian Fernandez Silva, the company’s personnel director, in an interview. Hiring will focus on package sorting and shipping positions in Brazil and Mexicobut the technology equipment and products will also be expanded.

“For us It is very important to have a stronger shipping network every time. and more robust that allows generating the benefits of faster and cheaper shipments for all users of the platform”, he said.

MercadoLibre will create 13,000 new jobs in Latin America

For Free marketwhich had 10,000 employees at the end of 2019, the hiring spree seeks to capitalize on a change in the way it Latin American consumers do their shopping, a trend that gained momentum during the pandemic.

While their peers in United States and Europe saw orders slow after governments lifted restrictions, MercadoLibre sales continued to grow, with revenues exceeding US10.5 billion in 2022almost 50% more than the previous year.

Es “likely to persist” the good performance of the company in electronic commerce, toyes as in its fintech branchwrote Bloomberg Intelligence analyst Jennifer Bartashus, following the company’s fourth-quarter results. Investors have poured into the company’s shares, which have risen nearly a 55% this yearwell above the 16.5% return of the Nasdaq, according to data compiled by Bloomberg.

The new hires intend to strengthen the network of attorney centers and service that process the packages, especially in smaller cities, Fernández said. He declined to give a figure for how many new distribution and service centers will open in 2023. In previous statementsthe company said it plans to invest $3.6 billion in Brazil this year and $1.6 billion in Mexico.

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The expansion It will be financed through the income of the company and will not require additional support, Fernández said.

Crisis at Amazon and mass layoffs at Twitch

He recruitment plan by MercadoLibre goes against the observed trend Among tech giants like Amazon Inc., which has laid off employees this year after a surge in hiring during the pandemic. In its home region, MercadoLibre is facing an economic slowdown. The International Monetary Fund has cut its growth prospects for Latin America this year due to high inflation and high interest rates.

Fernandez said that Free market You are not worried about hiring too many people or being forced to lay off employees in the future.

If we thought that overcontracting is a risk, we really wouldn’t,” he said. “Since I worked at MELI 19 years ago, we have never done a downsizingNever in all these years.”

What will the 13,000 new positions be like?

By sectors:

  • 11,000 in logistics
  • 1,700 in technology
  • 600 in other divisions of the company

By countries:

  • 5,800 in Brazil
  • 5,350 in Mexico
  • 800 in Argentina
  • 600 in Chile
  • 600 in Colombia
  • 150 in Uruguay

©2023 Bloomberg L.P.

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