Mercado Libre to Double its LatAm Workforce in 2021

E-commerce giant Mercado Libre has announced that it would double its Latin American workforce by the end of this year.

Buenos Aires-based company ended in 2020 with 15,500 employees. Its regional headcount would exceed 32,000 by the end of 2021, reported Bloomberg, citing Sebastian Fernandez Dilva, Director of Personnel at Libre.

Thanks to the social distancing measures enforced following the outbreak of coronavirus, online shopping has grown exponentially across Latin America over the past year.

While the region’s economy slipped back into recession, Mercado Libre’s share price doubled, reaching a record market value of US$100 billion.

The Argentinean firm has also raised more than US$1 billion through a bond sale as part of expanding its operations.

The online retailer is expected to create more than 4,700 jobs in Mexico alone. Mexico is now Libre’s second-biggest market after Brazil.

Mercado Libre is also hoping to double the capacity of its storage units and financial technology services in Mexico, where the company recently opened its fourth distribution center in the Northern state of Nuevo Leon.

The retailer’s investment in Mexico is also expected to double from US$420 million in 2020 to US$1.1 billion this year.