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AMAZON.COM

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Amazon com : Workers Launch Easter-Week Strike at Germany Logistics Centers

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04/15/2019 | 10:12am EDT

By Patrick Costello

Workers at Amazon.com Inc. (AMZN) in Germany have gone on strike at four logistics centers in the country as part of a bid for higher pay and collective wage agreements with the online retailer.

Amazon employees went on strike beginning midnight on Monday at logistics centers in Bad Hersfeld, Werne, Rheinberg and Koblenz, the Verdi trade union said.

The strike is slated to continue through Tuesday in Bad Hersfeld and through Thursday at the Werne and Rheinberg centers. Verdi said strikes at additional Amazon sites in Germany could break out "at any time" during the week leading up to Easter.

"We want to push through a noticeable pay rise for retail and mail-order businesses in bargaining talks," Verdi trade union secretary Mechthild Middeke said, adding that any pay increases have to be commensurate with Amazon's demands for higher output from workers.

The union has been calling for years for Amazon to increase pay and abide by industrywide wage agreements in Germany, saying the online retailer pays less than Verdi's demands by not recognizing sector-wide agreements.

Verdi was unable on Monday to provide estimates for the number of striking workers, but a spokesman for Amazon Germany said the company saw limited participation in the strike, which it said had "zero operational impact" and no impact on customer deliveries.

"Amazon proves every day that you can be a fair and responsible employer without a collective agreement," the spokesman said, adding that wages at Amazon logistics centers are "at the upper end" of what is paid in comparable jobs.

Write to Patrick Costello at patrick.costello@dowjones.com.

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Financials ($)
Sales 2019 275 B
EBIT 2019 17 721 M
Net income 2019 13 987 M
Finance 2019 33 759 M
Yield 2019 -
P/E ratio 2019 70,74
P/E ratio 2020 49,36
EV / Sales 2019 3,32x
EV / Sales 2020 2,73x
Capitalization 947 B
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Technical analysis trends AMAZON.COM
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 47
Average target price 2 060 $
Spread / Average Target 7,1%
EPS Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Tom A. Alberg Independent Director
Thomas O. Ryder Independent Director
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