(Bloomberg) – MercadoLibre Inc., Latin America’s e-commerce titan, has grown exponentially during the coronavirus pandemic and now plans to double its workforce across the region to respond to the surge in online shopping.
The Buenos Aires-based company plans to close the year with a direct workforce of 32,000 people, up from 15,500 at the end of 2020, said Sebastián Fernández Silva, MercadoLibre’s chief people officer.
The measure comes after a year of strict quarantines that pushed Latin Americans to buy online, in many cases for the first time, and increasingly turn to digital payment options. This growth has also led to a rebound in the company’s stock prices, which more than doubled in the past year and reached a record market value in January of approximately $ 100 billion.
The company already has the financing it needs for this boost after raising $ 1.1 billion through a bond sale earlier this year and does not plan any additional capital increases for the hiring, Fernández Silva said.
MercadoLibre will also invest a record $ 1.1 billion in Mexico this year, more than in the last four years combined, said David Geisen, the company’s country manager for Mexico. The funds will be used to double the capacity of the company’s storage units, strengthen the logistics network and increase its financial technology offering.
Brazil is the company’s largest market, and Mexico surpassed Argentina as the second largest in the fourth quarter, surpassing US $ 1 billion in quarterly gross merchandise volume.
MercadoLibre’s contracting approach:
By sector: 11,000 of the new hires will be for the delivery and logistics system Company shipments 4,000 for technology and software development roles 1,000 for others By country: 7,200 new jobs in Brazil, adding to its current workforce of 4,9694,700 new jobs in Mexico, adding to its current workforce 1,0222,800 new jobs in Argentina, adding to the 7,009 existing 850 new jobs in Colombia, adding to the current 965 jobs 300 new jobs in Chile , which are added to the current 419 jobs 150 new jobs in Uruguay, which are added to the current 1,126
Original Note: MercadoLibre Plans to Double Workforce With 16,000 New Jobs
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