Amazon's Constructive Step To Beef Up Warehouse Safety, Acquires Cloostermans

Amazon's Constructive Step To Beef Up Warehouse Safety, Acquires Cloostermans
  • Amazon.com, Inc AMZN scooped Cloostermans, a Belgian company that makes technology used in warehouses.
  • The financial terms of the transaction remain undisclosed.
  • Amazon began working with Cloostermans in 2019, using its technology to help move and stack heavy palettes and goods and package products together for delivery.
  • Cloostermans will become part of Amazon Robotics, Amazon's division focused on automating aspects of its warehouse operations, CNBC reports
  • Amazon formed the unit after acquiring Kiva Systems, a manufacturer of warehouse robots, for $775 million a decade ago.
  • In June, Amazon showcased a package ferrying machine called Proteus, which it referred to as its first fully autonomous mobile robot. Amazon also deployed other robots to help sort and move packages.
  • Amazon acknowledged investing in robotics and other technology to make its warehouses safer for employees.
  • A study suggested that Amazon's warehouse workers in the U.S. suffered severe injuries at twice the rate of rival companies.
  • The vast majority of injuries in 2021 made the workers incapable of performing their regular job functions (light duty) or forced them to miss work entirely (lost time).
  • Amazon upgraded the air conditioning system at a New Jersey warehouse following heat-related job risks.
  • Several workers at an Amazon air hub in San Bernardino, California, recently staged a walkout citing heat-related job risks, among others.
  • Earlier reports suggested Amazon faced a significant shortage of workers in its warehouses as it ran out of people to hire, the TechCrunch reports. The report indicated that alongside higher wages, further automation could be one way to offset that crisis.
  • Amazon held $37.7 billion in cash and equivalents as of June 30.
  • Price Action: AMZN shares traded higher by 1.93% at $132.32 in the premarket on the last check Friday.

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