Amazon’s Jeff Bezos Wants to Test All Employees for COVID-19, AMZN Stock Up 3.52%

UTC by Steve Muchoki · 3 min read
Amazon’s Jeff Bezos Wants to Test All Employees for COVID-19, AMZN Stock Up 3.52%
Photo: Depositphotos

Amazon CEO Jeff Bezos says the company is developing COVID-19 testing capabilities to keep a record of all its employees globally. Amazon (AMZN) stock price is rising over 3% today.

Amazon.com Inc (NASDAQ: AMZN) CEO Jeff Bezos says the online retail company is setting up COVID-19 testing capabilities as a precautionary measure to keep all employees globally safe. The company has experienced a surge in both sales and stock market in the past few weeks after coronavirus began pushing more and more people into adhering to social distancing rules put in place by the authorities.

Jeff Bezos on COVID-19

Through an internal memo from the billionaire to the shareholders, Jeff outlined other steps that the company has put in place to fight the coronavirus. Among them include shutting down non-essential services like Amazon Books, to allot more resources to the food sector. The company has also been regularly testing all its staff including the healthy ones.

In his statement, he said that the company has assembled a team of scientists, managers and also software engineers in order to build an internal testing capacity. The company is anticipating to build and open its first testing lab very soon.

“Regular testing on a global scale, across all industries, would both help people keep safe and help get the economy back up and running. For this to work, we as a society would need vastly more testing capacity than is currently available,” Bezos said.

The company has been feeling the heat of the virus as more employees get infected with it, hence affecting the supply chain at large. Despite the huge criticism that Bezos received for not doing all required to keep the employees safe from the virus, the company keeps soaring up even amid the coronavirus crisis.

In a bid to reassure the employees, Bezos has been making impromptu visits to different warehouses and done quick check-ups on how the employees are faring. He even wrote a letter to all employees thanking them for their brevity amid the outbreak.

In the letter, the billionaire also reassured the employees that the face mask will be provided and temperature checks will be done regularly. He, however, requested all the employees to ensure they have sanitized their area of work before and after shift.

The letter continues to say:

“We’ve shifted training protocols so we don’t have employees gathering in one spot, and we’ve adjusted our hiring process to allow for social distancing.”

AMZN Stock

Meanwhile, investors have been putting their money more into the company, as the pandemic continues favoring the company’s sales and revenue. The shares have soared to a new all-time high, and the future still looks bright for the company.

Today the stock is also in the green. At the moment of writing, Amazon (AMZN) stock is rising 3.52% and its current price is $2,388.97.

The market cap is $1.19 trillion and it doesn’t look like the company is going to leave the so-called trillion club in the nearest future.

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Steve Muchoki
Author: Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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