On March 16, 2020, technology heavyweight Amazon (NASDAQ:AMZN) announced that the company and its global network partners aim to help communities around the world as the COVID-19 pandemic continues to take a toll on the world economy. The world's top online retailer will deliver critical supplies directly to the doorsteps of people in dire need of essential products.
At a time when millions of people are experiencing a citywide or nationwide lockdown, Amazon is experiencing a significant increase in demand. Amazon's blog states, "We are opening 100,000 new full and part-time positions across the U.S. in our fulfillment centers and delivery network to meet the surge in demand from people relying on Amazon's service during this stressful time, particularly those most vulnerable to being out in public."
Amazon has stated that it will welcome people from severely impacted industries in the hospitality, restaurant, and travel sectors that have taken a massive hit in recent times. In addition to increasing its workforce by 100,000, Amazon will pay an additional $2 hour for the hourly employees in the United States during the month of April 2020, which will take the current rate to $17 an hour. The company will also increase the rate in the United Kingdom by £2 per hour while the hourly rate in the EU will be increased by €2 as well.
This commitment to increase hourly pay will result in an investment of approximately $350 million for Amazon across the U.S., U.K., and Europe regions.