Amazon Reaches Landmark Settlement with Teamsters Union
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 8 hours ago
0mins
Should l Buy AMZN?
The Teamsters union said in a statement: "In a landmark settlement, Amazon has conceded it will no longer retaliate against workers who exercise their right to strike, following relentless pressure from the Teamsters Union in sessions mediated by the National Labor Relations Board." "When workers organize together as Teamsters, we have the power to go toe-to-toe with the biggest corporations in the world - and to win," said Randy Korgan, Director of the Teamsters Amazon Division. "Amazon Teamsters dragged the world's largest retailer to the table kicking and screaming to try to fix the problems the company created for union members. The National Labor Relations Board now needs to stop dragging its feet and ratify this agreement immediately. The Teamsters will keep building worker power at Amazon nationwide and win the contracts that these workers deserve." Amazon's settlement with the Teamsters will now restore the illegally deducted time to affected workers and ensure all Amazon workers can strike in the future without losing their UPT. The settlement will cover all of Amazon's 1,300 facilities nationwide, and Amazon is required to post a notice to workers informing them of their rights. Nearly 10,000 Amazon workers have organized with the Teamsters over the last two years, the union said.
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Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise
44 Analyst Rating
41 Buy
3 Hold
0 Sell
Strong Buy
Current: 200.950
Low
175.00
Averages
280.01
High
325.00
Current: 200.950
Low
175.00
Averages
280.01
High
325.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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