Union-led Strikes Continue in Britain as Amazon Workers Join Protest during Prime Day
Portfolio Pulse from Anusuya Lahiri
Nearly 900 workers at an Amazon warehouse in Coventry, U.K., will stage a three-day strike from July 11-13 over a pay dispute, according to labor union GMB. The strike will coincide with Amazon's Prime Day sales event. The Coventry warehouse does not directly impact customer orders, so there will be no disruption to customers. JPMorgan predicts that Amazon will generate approximately $7 billion in revenue from its Prime Day sales.
July 10, 2023 | 2:07 pm
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Amazon workers in Coventry, U.K. are planning a strike during Prime Day over a pay dispute. However, this is not expected to disrupt customer orders. JPMorgan predicts that Amazon will generate approximately $7 billion in revenue from its Prime Day sales.
The strike by Amazon workers in the U.K. is a significant labor issue for the company. However, since the Coventry warehouse does not directly impact customer orders, the strike is not expected to disrupt Amazon's Prime Day sales. Therefore, the short-term impact on Amazon's stock price is likely to be neutral. JPMorgan's prediction of $7 billion in revenue from Prime Day sales also supports this assessment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100