The Holiday Hustle: Amazon Ramps Up Hiring
Amazon.com Inc AMZN is gearing up to recruit 250,000 workers in the U.S. for positions in transportation and warehouses to seize the opportunities of the 2024 holiday season rush, according to a report by Reuters.
This recruitment drive mirrors the 2023 numbers, illustrating the vital role of additional workforce in the retail sector during the festive period.
Retail giant Target Corp TGT is also planning to hire 100,000 employees to navigate through the holiday season.
Earlier in September, Amazon had increased the average total compensation for fulfillment and transportation employees in the U.S. to exceed $29 per hour.
Walmart Inc’s WMT Sam’s Club has also raised hourly pay for frontline associates to more than $19, with additional annual bonuses worth thousands of dollars.
The National Labor Relations Board (NLRB) recently charged Amazon – a joint employer of its Delivery Service Partner (DSP) drivers – for violating labor laws by not recognizing and engaging with the Teamsters Union.
In 2023, Amazon saw a surge in sales during Cyber Monday, hitting $12.4 billion, a 9.6% increase from the initial estimate of $12 billion. The total online sales for Cyber Week summed up to $38 billion, surpassing the estimated $37.2 billion.
For the upcoming holiday season in the U.S., retailers are projected to create 520,000 jobs, slightly lower than the 2023 figure of 564,200 jobs, according to Reuters.
Mastercard’s forecast suggests that online holiday shopping might reach $240.8 billion, marking a 4.9% rise.
Price Action: At the latest premarket check on Friday, AMZN stock exhibited a 2.11% increase, reaching $185.80.
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