Staff or Guest writer for The Dog of Wall Street.

2020-11-26 14:20

Amazon.com Inc. (AMZN) on Thursday announced that it has allocated a bonus amount of more than $500 million for its front-line workers across the United States. The company will award the one-time bonus amount to employees working during the holiday season in the tough time of Covid-19 pandemic. 

The e-commerce giant stated in a blog post that employees hired by the company for the month of December will be eligible for the bonus. Full-time operational staff will receive a one-time bonus of $300, while part-time workers will get $150.

Rivals including Walmart and Home Depot took similar initiatives in the recent months by spending heavy amounts in bonuses to motivate their workers that have been working on the front lines during the pandemic. 

This is the second time this year that Amazon has taken an initiative for front-line workers. In August, it spent an equal amount of $500 to compensate staff by giving away one-time bonuses. Amazon has faced criticism in the recent months from the U.S. regulators over safety measures taken by the company to protect its workers from Covid-19.

Separately, the company has trimmed prices for its wide range of products through different deals scheduled for Black Friday and Cyber Monday. Customers can buy products such as smart speakers, Wi-Fi routers, several Fire TV streaming devices among many other products on discounted prices.

One of the best deals includes a huge discount on Apple’s AirPods Pro wireless earbuds, which customers can buy for $169, as compared to their original price tag of $169.

Amazon (NASDAQ: AMZN) stock has performed well on a year-to-date basis, but it has been trading relatively flat since September. AMZN share price has surged more than 72 percent so far this year. 

Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.