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Amazon to hire 75K more workers to keep up with demand amid coronavirus

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Yahoo Finance’s Dan Howley joins Seana Smith to discuss how Amazon is handling the surge in demand for their services as the coronavirus pandemic continues.

Video Transcript

SEANA SMITH: I just want to bring up Amazon because it is a huge mover to the upside today. Shares are at another all time high. When we talk about what's happening with Amazon as it related to the coronavirus, we're seeing Amazon really double down on hiring. So they hired over 100,000 positions last month. Now they're hiring 75,000 more. It sounds like the company is struggling to keep up with all the demand for its site.

DAN HOWLEY: Yeah, I mean, people are being told to stay home. So the way that they're trying to get goods that they need is through services like Amazon, like Walmart. But Amazon-- 175,000 workers will be hired as a result of this pandemic. It's really, you know, kind of caught them off guard because when you think about it, yes, they have huge buildups in staffing at warehouses before the holiday season.

This wasn't like that. They didn't have the kind of buildup ability that they had prior to that. So what they did is had to say, OK, we're really starting to run low on goods here. People aren't in places that we need them to. So we're going to cut out non-essential goods. Make sure that we're able to stock up the essential goods and get them out the door.

And then as they started to bring people back on, those 100,000, now the 75,000 they're going to put to work, now they're bringing back non-essential goods. And they said they're going to be able to take those front sellers into their warehouses, and you'll soon be able to order, I don't know, step ladders and stuff along with toilet paper, I guess.

So obviously, a big move for Amazon, though, because, you know, this is a company that when it comes to the end of this pandemic, whenever that will be, will obviously be one of the top earners here. One of the companies that will come out on top. Not only because they were providing Americans with essential goods when they needed them, but because they were able to do it in a timely fashion, as well as put thousands of Americans back to work when we see 16 million out of jobs. So they're really kind of coming out of this kind of golden, I guess.

SEANA SMITH: Yeah. and certainly it looks like they are. Again, shares at an all time high today. Dan Howley, thanks so much.