MercadoLibre has seen a strong uptick in business following the COVID pandemic as it seeks to hire more people in logistics operations in Mexico and Brazil, along with the company’s technology and product teams.
Over the past year and more, top organizations in the tech world have announced several rounds of layoffs. Although the jobs market is in full swing, Latin American giant MercadoLibre is currently on a hiring spree.
MercadoLibre Adds New Jobs
During an interview with Bloomberg on Thursday, April 20, MercadoLibre’s Chief People Officer Sebastian Fernandez Silva said that they plan to add 13,000 jobs this year. This hiring will primarily focus on the company’s technology and product teams, as well as logistics operations in Mexico and Brazil. Bloomberg, speaking on the development of Fernandez Said,
“It is very important for us to have a stronger, more robust logistics network that allows for faster, cheaper deliveries for users”.
He also said the hiring will strengthen MercadoLibre’s fulfillment network, especially in smaller cities. Earlier, the Latin American e-commerce giant had said that to expand its distribution and service centres, it plans to invest $3.6 billion in Brazil and $1.6 billion in Mexico this year.
Bloomberg also reports that the company will fund its hiring effort entirely through in-house revenue without the need for additional financing. The development comes at a time when other eCommerce players like Amazon are cutting jobs significantly.
last month, Amazon In January, it announced 9,000 more layoffs after cutting 18,000 jobs earlier this year. Amazon CEO Andy Jassy justified his action, saying:
“It is understandable given what was happening to our businesses and the economy. However, given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we chose to be more streamlined in our costs and workforce Is.
Navigating Regulatory Uncertainty in Latin America
During the pandemic period of 2020-2021, eCommerce giant MercadoLibre was in a massive expansion phase in the Latin American market. Speaking to PYMTS last year, MercadoLibre’s Karen Brooke Said That “eCommerce penetration [before the pandemic] was too short [in Latin America] Especially compared to the US or other regions, such as Asia or China. The reach of eCommerce in Latin America more than doubled during the pandemic, but the biggest difference from other regions is that it has never stopped growing.
However, she added that traders hoping for a trend need to understand the details of the industry first. He further added that the eCommerce landscape in Latin America has an extremely diverse set of countries and consumers. Speaking to PYMTS, Brooke said that “Latin America is very fragmented, and regulations are different in each country. If you go to Brazil, you’ll have a completely different market than Mexico, Argentina or Colombia, and There will also be different rules on how to invoice and import products.
Bhushan is a FinTech enthusiast and has a great understanding of the financial markets. His interest in economics and finance drew his attention to the newly emerging blockchain technology and cryptocurrency markets. He is in the process of continuous learning and keeps motivating himself by sharing his acquired knowledge. In his spare time he reads thriller fiction novels and occasionally explores his culinary skills.
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