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May 28, 2020, 8:13 a.m. EDT

Amazon shifting 125,000 temporary workers to permanent employees

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By Tonya Garcia

Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +2.49% said Thursday that 125,000 of the 175,000 workers the e-commerce giant hired on a temporary basis will be converted to permanent full-time employees starting in June. Regular full-time roles have a minimum wage of $15 per hour. The workers were brought on board to help Amazon meet coronavirus-related demand, with many planning to go back to previous companies when states re-open. "As the long-term picture becomes more clear" and unemployment soars, Amazon is giving this option. Amazon stock slipped 1.1% in Thursday premarket trading, but has rallied 30.4% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.60% is down 6% for 2020 so far.

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,095.13
+75.34 +2.49%
Volume: 4.62M
Sept. 25, 2020 4:00p
P/E Ratio
118.97
Dividend Yield
N/A
Market Cap
$1550.32 billion
Rev. per Employee
$359,671
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 0.00
Sept. 25, 2020 5:06p
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