Walmart, Target, and Amazon Are Quietly Preparing for Something Big

Like Amazon, now Walmart and Target are holding similar “fall” savings events promising to offer big savings. All three of them know the consumer economy is in deep trouble, thus the overemphasis on savings. But it’s not just what these retailers are doing for customers, it’s what they aren’t doing for workers. According to a range of sources, including the retailers themselves, they are not hiring. 

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Challenger Gray & Christmas 
https://www.challengergray.com/blog/september-job-cuts-fall-37-from-august-ytd-total-highest-since-2020-lowest-ytd-hiring-since-2009/

Retail Dive How retailers are hiring for the 2025 holiday season
https://www.retaildive.com/news/retail-holiday-season-hiring-job-cuts/760900/

ISM Services September 2025
https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/services/september/

FRBNY Business Leaders Survey
https://www.newyorkfed.org/medialibrary/media/Survey/business_leaders/2025/2025_09blsreport.pdf?sc_lang=en&hash=872CB84D638D0F3D1A3F833365E25EF4

Dallas Fed Texas Services Outlook Survey
https://www.dallasfed.org/research/surveys/tssos/2025/2509