Square cuts job openings by 24% in a week
The last time we wrote about Square ($NYSE:SQ), we showed that hiring was up, alongside competitor PayPal ($NASDAQ:PYPL). That was a week ago. Oh how the times have changed since then, a much simpler time in our lives when everything was so much different.
The mobile payment company has gone from hiring at a great pace to suddenly dropping job listings by 24%.
One of two things happened: Either all 81 of those jobs got filled very quickly, or Square simply doesn't see a need to hire an extra 81 staff members right now.
Total employee count has stayed relatively consistent, if a little flat, which is a good conservative stance to take in these tumultuous times we live in. A global outbreak doesn't happen every day, and with entire companies working from home, it can be hard to hire a new team member completely online.
We do have to point out that the stock has more than been cut in half, but we cannot predict the future and will decline to comment on what tomorrow brings. Only the data we have available going back years.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.