What Happened
The e-commerce giant is attempting to meet the rising demand for online deliveries due to the novel coronavirus (COVID-19) outbreak.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content=""We are seeing a significant increase in demand, which means our labor needs are unprecedented for this time of year," Amazon senior vice president of worldwide operations Dave Clark said in a statement.” data-reactid=”22″>”We are seeing a significant increase in demand, which means our labor needs are unprecedented for this time of year,” Amazon senior vice president of worldwide operations Dave Clark said in a statement.
“Getting a priority item to your doorstep is vital as communities practice social-distancing, particularly for the elderly and others with underlying health issues.”
Clark added that the workers who have lost their jobs due to the coronavirus outbreak in sectors like hospitality, restaurants, and travel are encouraged to apply.
“We want those people to know we welcome them on our teams until things return to normal and their past employer is able to bring them back,” he said.
Amazon also announced that it is increasing the pay of all its hourly workers in the U.S. by $2 through April.
The Seattle-based company will increase the pay of its workers in the United Kingdom by $2.45 (£2) and in certain European Union countries by $2.23 (€2).
Why It Matters
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon has been struggling to meet the rising demand for online deliveries. In a blog post on Saturday, the company said that it’s out of stock on some "popular brands and items," especially household staples and deliveries are taking longer than usual.” data-reactid=”29″>Amazon has been struggling to meet the rising demand for online deliveries. In a blog post on Saturday, the company said that it’s out of stock on some “popular brands and items,” especially household staples and deliveries are taking longer than usual.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="President Donald Trump on Friday declared a national emergency to combat COVID-19, and a number of states are taking efforts at enabling social distancing among communities, including by shutting down businesses such as bars and restaurants.” data-reactid=”30″>President Donald Trump on Friday declared a national emergency to combat COVID-19, and a number of states are taking efforts at enabling social distancing among communities, including by shutting down businesses such as bars and restaurants.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="A number of companies like Apple Inc. (NASDAQ: AAPL), Nike Inc. (NYSE: NKE), and Abercrombie & Fitch (NYSE: ANF) have shut down their retail stores for the coming weeks across the U.S.” data-reactid=”31″>A number of companies like Apple Inc. (NASDAQ: AAPL), Nike Inc. (NYSE: NKE), and Abercrombie & Fitch (NYSE: ANF) have shut down their retail stores for the coming weeks across the U.S.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Retailers including Walmart Inc. and Kroger Co. (NYSE: KR) have reduced store operating hours to restock products and sanitize the stores.” data-reactid=”32″>Retailers including Walmart Inc. and Kroger Co. (NYSE: KR) have reduced store operating hours to restock products and sanitize the stores.
Price Action
Amazon’s shares closed 5.37% lower at $1,689.15 on Monday. The shares traded 3.4% higher in the after-hours session at $1,746.89.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”35″>See more from Benzinga
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”40″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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