Target (NYSE: TGT) revealed plans to hire 100,000 seasonal workers for the holiday season. New workers will be hired only after current Target employees are offered a chance to establish their desired holiday shifts. Starting salaries will range anywhere from USD15 and USD24 an hour.
“A lot of uncertainty is plaguing seasonal employers, which may mean a slower hiring season,” Andrew Challenger, senior vice president of executive outplacement firm Challenger, Gray & Christmas said. “If companies see strong consumer buying in September and October, we might see those large-scale announcements begin.”
Retailers have been struggling with labor shortages throughout the last year and have been forced to implement big markdowns as a means of selling off excess inventory. Recently, Target experienced a 90% plummet in quarterly profit amid the reduced prices.
“Companies have been in hiring mode for two years, battling to attract and retain talent and offering unprecedented perks and salaries to do so,” Challenger said. “Some may find they have all the workers they need.”
Despite the big sales, Target along with other retailers may not experience the boost they expect this holiday season. Some forecasts predict holiday sales growth will only be up between 1% to 3% from 2021.