We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amazon (AMZN) to Support Workers Amid Pandemic With Bonuses
Read MoreHide Full Article
In appreciation of the unprecedented efforts of frontline workers amid the pandemic, Amazon (AMZN - Free Report) plans to award a bonus to its full-time as well as part-time U.S. employees at the end of this year.
The company plans to give a bonus of $300 to its full-time U.S. employees. In addition to this, the $150 bonus will be provided to eligible hourly team employees.
The news comes on the heels of the strike announcement by German employees in seven of its warehouses. The workers alleged that poor pay and unfair working conditions are the primary reasons behind the strike.
The recent announcement could have been a reassurance to workers who have been protesting regarding better pay and hygiene amid this pandemic.
The recent bonus underscores Amazon’s efforts to offer financial support to frontline employees amid the pandemic. Apart from this, the company has been providing recognition and support to its employees by offering virtual facilities.
However, earlier, the company faced several lawsuits in both Europe and the United States, claiming that it is not doing enough to prevent the spread of Covid-19 in its warehouses. Also, in October, Amazon said that nearly 20,000 of its employees in the United States tested positive for COVID-19.
Moreover, the company has been facing continuous strikes in many countries namely the U.K., Italy, Germany and Spain, demanding the right for collective bargaining, proper working conditions and regard for their efforts. These strikes during the peak shopping period do not bode well for an online retailer like Amazon, which gives the assurance of fast delivery.
Nevertheless, the company has been denying the allegations by claiming that workers are working at better pay and good conditions.
Also, it has been making continuous efforts to ensure the welfare of its workers amid the coronavirus-induced crisis. The company has tried to put in better testing techniques all over its facilities. Furthermore, it has disinfectant fogging at its fulfillment centers, sortation centers and delivery stations. In regard to workers’ safety, to date, the company has implemented more than 150 significant process changes across its sites worldwide.
Despite these efforts, we need to wait and see whether such incentives can placate the company’s U.S. workers and win their confidence or not.
Wrapping Up
Clearly, Amazon’s efforts exemplify that it is committed and sensitive toward employees as much as it is toward customers during this pandemic.
In addition to Amazon, a few other companies have also provided financial support to frontline associates in recognition of their esteemed contribution during the pandemic. For instance, Walmart Inc. (WMT - Free Report) distributed special cash bonuses to frontline associates working across Walmart stores, Sam’s Clubs and supply chain facilities. Also, Lowe’s Companies Inc. (LOW - Free Report) committed to pay an additional $100 million of discretionary bonuses to its frontline hourly workers across U.S. stores, distribution centers and store support centers. Also, The Kroger Co. (KR - Free Report) has been incurring costs related to additional employee payments and benefits.
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Amazon (AMZN) to Support Workers Amid Pandemic With Bonuses
In appreciation of the unprecedented efforts of frontline workers amid the pandemic, Amazon (AMZN - Free Report) plans to award a bonus to its full-time as well as part-time U.S. employees at the end of this year.
The company plans to give a bonus of $300 to its full-time U.S. employees. In addition to this, the $150 bonus will be provided to eligible hourly team employees.
The news comes on the heels of the strike announcement by German employees in seven of its warehouses. The workers alleged that poor pay and unfair working conditions are the primary reasons behind the strike.
The recent announcement could have been a reassurance to workers who have been protesting regarding better pay and hygiene amid this pandemic.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Will This Incentive Win Workers Heart?
The recent bonus underscores Amazon’s efforts to offer financial support to frontline employees amid the pandemic. Apart from this, the company has been providing recognition and support to its employees by offering virtual facilities.
However, earlier, the company faced several lawsuits in both Europe and the United States, claiming that it is not doing enough to prevent the spread of Covid-19 in its warehouses. Also, in October, Amazon said that nearly 20,000 of its employees in the United States tested positive for COVID-19.
Moreover, the company has been facing continuous strikes in many countries namely the U.K., Italy, Germany and Spain, demanding the right for collective bargaining, proper working conditions and regard for their efforts. These strikes during the peak shopping period do not bode well for an online retailer like Amazon, which gives the assurance of fast delivery.
Nevertheless, the company has been denying the allegations by claiming that workers are working at better pay and good conditions.
Also, it has been making continuous efforts to ensure the welfare of its workers amid the coronavirus-induced crisis. The company has tried to put in better testing techniques all over its facilities. Furthermore, it has disinfectant fogging at its fulfillment centers, sortation centers and delivery stations. In regard to workers’ safety, to date, the company has implemented more than 150 significant process changes across its sites worldwide.
Despite these efforts, we need to wait and see whether such incentives can placate the company’s U.S. workers and win their confidence or not.
Wrapping Up
Clearly, Amazon’s efforts exemplify that it is committed and sensitive toward employees as much as it is toward customers during this pandemic.
In addition to Amazon, a few other companies have also provided financial support to frontline associates in recognition of their esteemed contribution during the pandemic. For instance, Walmart Inc. (WMT - Free Report) distributed special cash bonuses to frontline associates working across Walmart stores, Sam’s Clubs and supply chain facilities. Also, Lowe’s Companies Inc. (LOW - Free Report) committed to pay an additional $100 million of discretionary bonuses to its frontline hourly workers across U.S. stores, distribution centers and store support centers. Also, The Kroger Co. (KR - Free Report) has been incurring costs related to additional employee payments and benefits.
Markedly, Amazon, with a Zacks Rank #3 (Hold), has gained 72.9% in the past year compared with the industry’s growth of 73.8%.You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>