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This Week in Jobs Data:
Klarna, Dell, Amazon, Accenture…
Hey, Happy Friday.
Before we dive into this week’s data stories, we think you should give our data a try for yourself. For free.
Compass Playground is a no-strings, no structured form, no-salesman-required preview of the most timely and accurate labor demand data available.Take a break on this Friday morning andhave some fun with it.
This week, we’re tracking Klarna’s love letter to gen AI: an 84% cut in job openings since Jan 2023.
Plus: Hiring velocity loses juice at Ballard Power, Dell vies for chip dominance with mounting sales hires, and we’ll show you a detailed breakdown of driver salaries at UPS, Amazon, and FedEx.
Stick around for the latest labor demand trends at Accenture, Micron, Jefferies, and Cintas, all with earnings calls coming next week.
Klarna cut job openings by 84% between Jan 2023 and May 2024, leading the AI replacement charge.
The Compass graph below is Klarna's hiring philosophy made visible: eliminate as many human jobs as possible while maximizing reliance on AI. Our data shows the trend starting last September, before the fintech made public declarations of company shrinkage. By November of 2023 the company had implemented a hiring freeze for all roles beyond engineering.
As AI adoption marches on, you'll see many tech companies follow Klarna's lead. With access to real-time LinkUp hiring data, you'll see it before everyone else.
Klarna axed 84% of job openings between January 2023 and May 2024
This week, Ballard Power Systems announced the exit of its financial and operating chiefs as part of a restructuring effort. Our data shows clear signals of what’s at play—there’s been a sharp decline in architecture and engineering jobs, which lines up with Ballard’s decision to cut back its workforce.
We’re also seeing job listings stay open longer, with both active and closed job durations rising since July. It looks like companies are being extra cautious with hiring in the weeks preceding the Fed’s rate cut, stretching out the process while navigating financial challenges.
Major drop in Architecture and Engineering job openings since April
Earlier this August, Dell announced a major reorganization of its sales division, signaling its shift of focus onto artificial intelligence (AI). While Super Micro had the upper hand in stock performance earlier this year, with a 53.7% gain year-to-date, it’s since plunged 63.2% since its peak in March. Meanwhile, Dell has been steadily gaining ground, up 5.5% in the same period.
Our hiring data shows a notable uptick in sales and management job postings at Dell over the past couple months, likely part of its strategy to expand its AI server operations. Super Micro, still a big player in the AI server market, is now facing shrinking margins and increasing competition from Dell.
As the AI hardware supply improves—especially for GPUs—we can expect lower market prices, putting pressure on Super Micro’s profitability. Meanwhile, Dell’s steady hiring and strong supply chain indicate a more resilient and stable trajectory in the growing AI server market.
Comparison of Dell and Super Micro Daily Active Jobs Index
Dell Hiring for Sales and Management roles up by ~150% since August
In the latest dispatch from the the delivery industry, Amazon has committed $2 billion to boost its drivers’ pay to nearly $22 per hour, largely influenced by unionization pressures. This marks a significant move as Amazon strengthens its logistics arm to stay competitive. Meanwhile, UPS continues to reign supreme in driver compensation, with the highest industry pay at $49 per hour, thanks to its Teamsters union contract.
FedEx drivers, while not hitting UPS levels, still show a steady increase in salaries, maintaining competitive benchmarks with Amazon. This balancing act between Amazon’s rapid growth and UPS’s stronghold is reshaping industry dynamics. Worth noting: Amazon recently surpassed UPS in parcel volume, underlining its dominance in the logistics game.
Salary trend for Stockers and Order Fillers at Amazon, FedEx, and UPS in the U.S.
Before the Earnings Call:
LinkUp is highlighting recent hiring trends at four companies set to report earnings next week. The data below is meant to provide additional insight ahead of official reports, and not to stand alone as an indicator of earnings results.
Every day, LinkUp indexes millions of job listings directly from more than 67,000 employer websites. In aggregate, this data tells the story of company health over time, strategic approaches to growth, signals of distress, and in-demand skills.
