Amazon.com Inc. is a global leader in e-commerce and cloud computing and one of the largest companies in the world. Amazon is listed on the Nasdaq Exchange under the ticker symbol AMZN.
Founded in 1994 by founder Jeff Bezos as an online bookstore, the company has since grown into the world’s largest e-commerce company, selling virtually everything from electronics, apparel, furniture, food and toys.
In addition to e-commerce, Amazon’s revenue comes from subscription services, cloud computing services, Whole Foods grocery sales, and other areas. We also manufacture and sell unique home appliances such as Amazon Kindle and Amazon Echo. Amazon Web Services is the world’s largest seller of cloud computing services. The company’s entertainment streaming service also produces its own movies and TV shows, and Amazon Music provides access to millions of songs.
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Amazon’s latest development
- On September 1, 2021, Amazon announced that it would hire more than 40,000 new technicians and corporate employees across the United States in addition to “tens of thousands of positions per hour” on Amazon’s Operations Network. Did.
- On August 19, 2021, the Wall Street Journal reported that Amazon plans to open several large physical stores in the United States.
- On August 13, 2021, U.S. Senators Amy Klobuchar, John Osov, and Bill Cassidy (two Democrats and Republicans) sent a letter to Amazon CEO Andrew Jassie about collecting Amazon biometric data. I asked the question. The request for information is made after Amazon launches a promotion that offers customers $ 10 with Amazon Store Credits in exchange for registering with Amazon One. This promotion allows customers to scan their palms on Amazon and pay using a palm scanner instead of credit or debit. card.
- On August 2, 2021, National Labor Relations Board (NLRB) officials attempted to illegally block the elections from the results of a vote by Amazon warehouse workers earlier this year in Bessemer, Alabama. If the regional director of the NLRB agrees to the recommendation, another vote may be held.
- On July 29, 2021, Amazon released its second quarter 2021 earnings report. Revenues were well above expectations for the quarter, but slightly below expectations. Revenues from high-margin AWS businesses exceeded expectations.
- On July 14, 2021, the Consumer Product Safety Commission (CPSC) filed a proceeding against Amazon in an attempt to force Amazon to recall hundreds of thousands of potentially dangerous products. According to the agency, these products contain defects in hair dryers and carbon monoxide detectors that can electrocut users if dropped in water. Amazon states that it has removed most of the product from its website, sent an email notifying the customer of the problem, and refunded the product. CPSC, among other things, requires Amazon to ensure that its products are returned and destroyed free of charge to customers and to issue public press releases about the dangers of the products.
- On July 5, 2021, Amazon founder Jeff Bezos resigned as CEO in support of AWS CEO Andrew Jassey.
- The Federal Trade Commission has begun investigating Amazon’s ongoing attempts to acquire MGM Studios, according to a report by The Information. The probe is expected to last for at least several months.
- On June 30, 2021, Amazon sent a 25-page petition to the Federal Trade Commission (FTC), asking the new FTC chair, Lina Khan, to withdraw from the FTC’s ruling on the company. Amazon argued that Khan’s frequent criticisms of Amazon “she can no longer think of the company’s antitrust defenses open-minded.”
- On May 26, 2021, Amazon announced that it would buy MGM Studios for $ 8.5 billion, including debt, or $ 6.5 billion, excluding debt.Buying a movie studio that owns intellectual property like James bond When Rambo The franchise aims to help Amazon’s unique streaming service, Prime Video, compete in the ever-increasing streaming market.
- On May 12, 2021, the EU’s second-highest court overturned the European Commission’s 2017 order to pay Luxembourg $ 300 million in taxes. The European Commission claimed that Amazon built its European business in a way that improperly underestimated its earnings by paying royalties to a tax-exempt holding company in Luxembourg. The court ruled that the European Commission’s analysis was flawed and did not prove that Amazon violated the law.
- As of April 9, 2021, 80% of the ballots for the warehouse union vote in Bessemer, Alabama were counted, and 71% of the voters opposed the formation of the union. The National Labor Relations Board (NLRB) has not identified a winner and has not finished counting the number of ballots disputed, but said the remaining ballots were not enough to exceed the existing margin for the union. I did.
- On March 17, 2021, Amazon announced that it would extend the Amazon Care telemedicine service currently available to Washington state employees to other employers in the state. It will be expanded to access for all Amazon employees this summer, and will be accessible to Washington, DC, Baltimore, and other cities in the coming months. Amazon Care was launched in 2019 as a pilot program for Amazon employees in Washington.