Market Overview

Amazon Shareholders Demand Disclosures On COVID-19 Worker Safety

Amazon Shareholders Demand Disclosures On COVID-19 Worker Safety

Amazon Inc. (NASDAQ: AMZN) shareholders want more worker safety data released at the company’s annual shareholders meeting to be held Wednesday.

What Happened

Amazon shareholders such as pension funds in New York, California, and Illinois are asking the e-commerce giant to release a report detailing worker safety during the COVID-19 pandemic, reported CNBC.

The demand from Amazon’s shareholders comes at a time when others, such as attorneys general, senators, and advocacy groups are also raising concerns about its workers.

Anna Pot, head of responsible investments for the Americas at APG Asset Management, a Dutch pension fund, said, “What we are missing is the report [on worker safety] on what is the impact of it.” She added, “The impression is that we’re still not there yet, that there are still unsafe working conditions.” 

Why It Matters

An alternative shareholder event was held last Thursday. The event was chaired by CtW Investment Group, owner of 890,000 Amazon shares, reported CNBC.

Participants at the event included 260 Amazon shareholders, warehouse workers, including Andre Kirk, a delivery driver who was dismissed after he had raised safety concerns.

Last week, comptroller Scott Stringer, who oversees New York City's $211 billion in pensions, co-signed a letter with Pot demanding Amazon director Judith McGrath explain the retailer's investments in COVID-19 safety measures.

Jana Jumpp, an Amazon employee, had claimed that over 600 employees became ill with COVID-19, and at least six died. Amazon refused to provide details.

Amazon counterclaimed that it had spent $800 million in protecting its workers against the pandemic, and had installed over 150 safety measures at its facilities. 

Price Action

On Friday, Amazon shares closed 0.40% lower at $2,436.88.


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