Afternoon Coffee: Hyundai and Kia to Recall 1.5M Vehicles, Amazon Goes on Hiring Spree

Hyundai Motor and Kia Motors plan to recall nearly 1.5 million vehicles in the United States and South Korea due to an engine defect, Reuters reports. The two companies are already doing poorly in key markets, and analysts say that the recall could cost each company as much as $220 million in earnings.

Mall Bubble Burst

Don’t say goodbye to the Mall of America yet, but new research from CoStar Group found that more than 10% of U.S. retail space (1 billion square feet) may be closed, converted to other uses or renegotiated for lower rent in the near future. Retailers ranging from Payless Inc. to Ralph Lauren are shuttering brick-and-mortar stores, and many are trying to survive by re-emerging as e-commerce brands.

Amazon’s Hiring Spree

Amazon plans to add 30,000 part-time fulfillment center and customer service jobs in the next year, the Chicago Tribune reports. This move would increase the company’s part-time worker pool by around 75%.

Best Places to Work in Chicago

Speaking of jobs, SAP Fieldglass and Accenture are on Crain’s Chicago Business’s 2017 Best Place to Work list, in 13th and 14th place, respectively. (Spend Matters is also based in Chicago.) Number one on the list? That would be Microsoft.

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