In the latest letter to Shareowners published on the company’s website, Amazon CEO Jeffrey P. Bezos spoke about the global challenges set for the company. He reported on current successes and emphasized the company’s importance for its customers during the pandemic. The company has taken all possible measures to ensure the supply of essential goods to those who need them and protect its customers from dishonest speculators. The letter also describes efforts to protect and support employees during the COVID-19 pandemic. For instance, Amazon raised its minimum wage, organized special health security training. Moreover, the company made over 150 significant process changes in operations to transition to the “new normal” safely and efficiently.
Jeffrey P. Bezos highlighted Amazon Web Services’ role in supporting medical research, collaboration with the World Health Organization and the country’s National Health Service, and helping Academic institutions worldwide transition from in-person to virtual classrooms. Alexa users got an option to check their risk level for COVID-19 at home or donate directly to charities on the front lines of the COVID-19 crisis. These donations have allowed distributing 73,000 meals to 2,700 elderly and medically vulnerable residents in Seattle (Amazon 3). Another example is 8,200 donated laptops to help Seattle Public Schools students gain access to virtual classes.
Finally, the letter emphasizes the company’s efforts to retrain its employees, educate and attract a workforce from other industries, and transition to a low-carbon economy. These forward-looking projects are essential for society and allow the company to maintain its competitive advantages. For instance, a complete transition to renewable energy sources makes the company less vulnerable to possible regulatory changes.
Reference
Amazon: Annual Reports, Proxies and Shareholder Letter. (2020). Web.