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Amazon to Add Even More Workers as Holidays Approach

Chris Lange

Published: October 27, 2020 12:14 pm

Amazon.com Inc. (NASDAQ: AMZN) 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.

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.