Amazon Faces Protests in Europe as Workers Demand Better Pay and Working Conditions
As the holiday shopping season kicks off with Black Friday sales, e-commerce giant Amazon is facing protests and strikes from its workers in Europe. According to a Reuters report, the “Make Amazon Pay” campaign coordinated by the UNI Global Union has mobilized workers in more than 30 countries to demand better working conditions and pay.
In Germany, 250 Amazon workers went on strike in Leipzig, while another 500 protested at the company’s warehouse in Rheinberg. The protests have also extended to the UK, Italy, and France, with workers demanding a collective wage agreement or improved pay and working conditions.
The unrest comes at a crucial time for Amazon as it looks to capitalize on the holiday shopping season. With all eyes on retailers for Black Friday sales, the protests could impact the company’s operations and reputation in Europe.
Despite the protests, analysts remain bullish on Amazon’s stock, with a Strong Buy consensus rating based on 41 Buys. Year-to-date, the stock has surged by more than 65%. The average price target for AMZN stock is $175.51, implying an upside potential of 19.6% at current levels.
The protests in Europe are likely to keep investors and industry observers on edge as they await the outcome and potential impact on Amazon’s business operations in the region.