Amazon: Company Plans On Spending $4 Billion On Covid-Related Expenses

The world has come to a halt due to the outbreak of the coronavirus pandemic. It has affected the economy adversely. In these desperate times, people are working relentlessly hard to save the world.

In the following article, we will brief about the initiative taken up by Amazon to battle the covid-19. As we all know, it is one of the giants in online retailing, and they have to follow strict guidelines to ensure that the good is delivered safely.

A Word From The CEO

The company has decided to spend a fortune of $4 billion just for the coronavirus related issues. The value is estimated to be the entire profit for the company’s upcoming quarter.

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Cyber Monday 2016 at Amazon Fulfillment Center in Dupont WA. (Photo by GeekWire/Kevin Lisota)

Jeff Bezos has claimed that all the money will be utilised for increasing the number of tests, making more number of personal protective equipment (PPE). He has also assured that this investment is essential for the safety and health of the employees.

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Some Good News

The most significant achievement for Amazon will be the fact that they are trying to increase the number of tests, and their team has also built a lab for the same purpose.

But a lot of controversies about poor working conditions have also surfaced. And Amazon has not commented on that at the moment. The overall picture depicts that the working environment is safe.

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Analyst’s Comments

RJ Hottovy has quoted the following about the situation, “The big-spending promise is weighing on shares, though I think that reinvestment is an important step for customer satisfaction/retention.” In addition to this, he also says that, “It is crucial as other competitors have stepped up their delivery/fulfilment capabilities.”

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Stay tuned for more updates about health, world and news. We hope our readers are staying at home, following the guidelines and are safe. Happy reading!

Further reading: Rocksteady: Batman-Arkham Knight Developers Rocksteady Proposed A Superman Game, Are The Rumours True?

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