Amazon defends itself from scrutiny as coronavirus crisis boosts profit and power
- World’s largest online retailer defends itself from scrutiny of its corporate activity and treatment of workers
- CEO Jeff Bezos’s net worth passes US$140 billion as sales soar during the pandemic
As Amazon becomes an increasingly important lifeline in the pandemic crisis, it is being hit with a wave of criticism from activists, politicians and others who question the tech giant’s growing influence.
Amazon has perhaps become the most scrutinised company during the health emergency.
It has boosted its global workforce to nearly one million and dealt with protests over warehouse safety and reported deaths of several employees.
But Amazon has also pledged to spend at least US$4 billion in the current quarter – its entire expected operating profit – on coronavirus mitigation efforts, including relief contributions and funding research.
Amazon’s AWS cloud computing unit, which powers big portions of the internet, is also a key element during the crisis with more people and companies working online.
Amazon’s market value has hovered near record levels around US$1.2 trillion dollars as it reported rising revenues and lower profits in the past quarter.