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Why Amazon Stock Slumped Today

Although it wasn't exactly a steep decline, Amazon's (NASDAQ: AMZN) stock took a bit of a fall on Thursday. The drop was linked to potential new struggles in labor relations. On Thursday, Reuters reported that the Securities and Exchange Commission (SEC) rejected an Amazon request to scotch a proposed shareholder vote on an audit of working conditions at its facilities. Read More...

Reuters

Amazon faces shareholder vote on treatment of warehouse workers

LONDON (Reuters) -Amazon.com Inc., the world’s biggest retailer, will face a shareholder vote calling for an independent audit of its treatment of warehouse workers after the top U.S. securities regulator turned down the company’s request to skip the resolution. The decision means Amazon investors will get to vote on the issue for the first time, proponents said, taking advantage of guidance from the U.S. Securities and Exchange Commission in November that made it more supportive of votes on significant social issues. Founded by billionaire Jeff Bezos, Amazon has drawn increasing criticism in recent years for its treatment of workers, including claims of poor working conditions at its warehouses and its attempts to block workers unionising.

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