Amazon (AMZN) in Talks With Test Makers to Screen Workers
Amazon AMZN is continuously making efforts to ensure the welfare of its workers amid the coronavirus-induced crisis.
This is evident from its talks with two coronavirus test makers for the safety of its warehouse workers. Reportedly, the company is in contact with two medical companies — Abbott Laboratories ABT and Thermo Fisher Scientific TMO regarding ways to screen and reduce risk of an infection.
With the latest move, the e-commerce giant is striving to introduce COVID-19 testing and screening at its warehouses to protect workers from this extremely contagious virus and curb its spread.
In fact, Amazon is trying for a testing technique that can screen more than one worker at a time.
We believe all these efforts will favor the company in gaining confidence of workers, who have been protecting about the same
Moreover, safe workers at its warehouses will help Amazon in meeting the increasing customer demand during this panic-shopping situation.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Strong Worker Welfare Initiatives
Amazon’s strong efforts to ensure safety of its workers and employees from this deadly virus remain noteworthy.
Apart from the latest move, the company is aggressively pursuing a deal with a medical organization to bolster its testing efforts.
Further, workers across the company’s U.S. and European warehouses will start receiving face masks and temperature checking instruments from next week.
Along with safety measures, Amazon is also trying to promote workers’ interests during this challenging scenario by offering pay hike. Notably, it is paying warehouse staff a higher salary to work in the Whole Foods grocery units.
This move will enable Amazon to catch up with the surging demand and deliver groceries on time amid this uncertain scenario.
All these endeavors will aid the company in retaining its workers during this crisis, which is crucial at this point of time.
Wrapping Up
Amazon is leaving no stone unturned to mitigate the risk of spreading the coronavirus. Further, its growing endeavors toward serving the interests of customers, sellers and workers remain major positives
These are likely instill investor optimism in the stock amid this coronavirus-induced crisis.
Moreover, a strong seller and customer base, healthy workers and aggressive retail strategies are likely to continue driving the performance of Amazon online-retail business.
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All these factors are expected to continue aiding Amazon in sustaining its dominant position in the e-commerce market despite the coronavirus scare.
Zacks Rank & a Stock to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
A better-ranked stocks in the retail-wholesale sector that can be considered is eBay EBAY which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for eBay is pegged at 11.56%.
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