Endeavor To Put Hiring Freeze In Place After Thanksgiving, President Mark Shapiro Reveals
deadline.comA hiring freeze at Endeavor Group Holdings will take effect after Thanksgiving, company president Mark Shapiro revealed at a conference hosted by Wall Street firm RBC Capital Markets. “Once we get a well-deserved Thanksgiving for our employees,” Shapiro said, the move will be implemented.
It is being planned “not because we’re seeing anything in the business,” the exec emphasized, but rather due to broader concerns about the economic climate. “We need to really be prudent.
We’re in or walking into a recession. We’ve got a war still going on, inflation’s where it’s at.” Recent tensions with China have also precipitated a lot of “fear” and “fear-mongering,” Shapiro added.
Stopping hiring is “first and foremost” on the company’s list of priorities for 2023, Shapiro said. “We just need a lean cost structure, quite frankly, as tight as we can have it.
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