Amazon (AMZN) on a Hiring Spree, to Add 3,500 New Jobs
Amazon AMZN is constantly striving to strengthen workforce in a bid to enhance deliveries.
Reportedly, the company strives to create these jobs in both direct and indirect form. The e-commerce giant aims to create 3,500 jobs at Vancouver and technology hubs in Toronto.
These jobs will require Amazon’s investment in logistics, technology, skill development and infrastructure. Moreover, the jobs are likely to support the company’s existing teams including AWS, Alexa, Amazon Advertising, and Retail and Operations Technology.
The new job positions will include software development engineers, user experience designers, speech scientists, cloud computing solutions architects, and sales and marketing executives, among others.
Notably, Amazon plans to expand operations in Canada. It will lease 18 floors in the building's North Tower and 17 floors in its South Tower. Also, the company plans to lease 130,000 square feet of space at a new office in Toronto.
With more warehouse workers and delivery drivers, we believe that the e-commerce giant will be better positioned to meet the flurry of online orders that it has been witnessing amid the COVID-19 pandemic.
The latest move aligns with Amazon’s motto of delivering goods on time.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Bottom Line
Amazon has been expanding on a global basis in a bid to maintain supremacy. The company is investing more in fulfillment, technology and content. Its focus on automating distribution centers is clearly heating up and investment in robotics should continue to pay off.
The latest step to recruit more personnel clearly demonstrates that Amazon is focused on expanding operations in the country and delivering enhanced services to more customers. Consequently, the company is likely to achieve growth targets going forward.
Although increased expenses could hurt the bottom line in the near term, we believe that these measures are necessary to maintain its dominance in this highly competitive market.
Zacks Rank and Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Dropbox DBX, Etsy, Inc. ETSY and Intuit Inc. INTU, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate of cDropbox, Etsy and Intuit is pegged at 34.4%, 26.5% and 12.3%, respectively.
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