Amazon to Add Even More Workers as Holidays Approach
Amazon has announced that it will be adding even more employees to its workforce for the holiday season.
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Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) has announced in a blog post that it aims to add even more employees to its workforce for the holiday season. Shares saw a handy gain on Tuesday after the announcement.
This e-commerce empire already has made huge moves in terms of hiring employees this year, as demand for Amazon’s goods have surged as a result of the coronavirus pandemic. Amazon had added more than 175,000 workers this year, with many coming during the onset of COVID-19 in March and April.
In this blog post, Amazon announced that it would be hiring an additional 100,000 people to meet its holiday shopping season demand. Last year, Amazon hired 200,000 employees, but with the already huge influx of employees this year, 100,000 may be sufficient.
The company also noted that it had promoted some 35,000 employees in its operations group this year, so there is upward mobility for those taking these seasonal jobs.
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With the full-time regular jobs come comprehensive health, dental and vision insurance, as well as a $15 minimum wage. Amazon also matches 50% of contributions to 401(k)s.
Amazon has been a market force to be reckoned with during the pandemic. The stock was up over 73% year to date, even before Tuesday’s move. Also over the past 52 weeks, the share price is up closer to 82%.
Amazon stock traded up about 2% at $3,271.68 on Tuesday, in a 52-week range of $1,626.03 to $3,552.25. The consensus price target is $3,724.98.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
