Amazon.com Inc. (NASDAQ:AMZN) workers, through their union, the Amazon Labor Union (ALU), reportedly voted to align with one of the nation’s largest labor organizations, the International Brotherhood of Teamsters.
This alliance aims to amplify their influence in future negotiations with the e-commerce giant.
Approximately 98% of ALU members supported the partnership, which seeks to enhance their bargaining power in securing better employment conditions for Amazon workers, reported Bloomberg.
The ALU previously achieved a significant organization win in 2022 at an Amazon facility on Staten Island, but faced setbacks with losses in two subsequent union elections and internal disputes.
Efforts to engage Amazon in official negotiations have stalled, further complicating their campaign.
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Chris Smalls, a prominent leader within the ALU, along with 15 other union officials, recently finalized an agreement in Washington, D.C. with Teamsters President Sean O’Brien to strengthen their collaboration, per the report.
O’Brien’s organization represents approximately 1.3 million workers, enhancing the potential impact of this union alliance.
In April, Amazon reported first-quarter net sales of $143.3 billion, up 13% year-over-year. Earnings per share of 98 cents in the first quarter beat a Street consensus estimate of 82 cents per share.
Amazon stock has gained more than 46% in the last 12 months. Investors can gain exposure to the stock via Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Vanguard Consumer Discretionary ETF (NYSE:VCR).
Price Action: AMZN shares are trading lower by 0.16% at $183.77 in premarket at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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