Stock Groups

Amazon faces shareholder vote on treatment of warehouse workers -Breaking

[ad_1]

2/2
© Reuters. FILEPHOTO: A door to an Amazon Books retailer in New York City is decorated with the logo of Amazon on February 14, 2019. REUTERS/Brendan McDermid

2/2

Ross Kerber, Simon Jessop

LONDON, (Reuters) – Amazon.com Inc (NASDAQ :).,), the largest retailer in the world, is set to face a shareholder vote asking for an independent audit on its treatment of warehouse workers following a rejection by the U.S. Securities regulator.

Proponents stated that Amazon investors will be able to vote on this issue for the first-time, thanks to guidance provided by the U.S. Securities and Exchange Commission (November) which made it more open and supportive of voting on important social issues. [nL1N2RU1YO]

Amazon, founded in 2000 by Jeff Bezos the billionaire, has been subject to increasing criticism for its treatment workers. This includes claims of unsafe working conditions in its warehouses as well as its efforts to prevent workers from unionizing.

Tulipshare, an activist platform for retail investors based in London filed a resolution urging companies to take care of their employees as part a growing focus on social issues.

The company was asked to conduct an independent audit on the company’s working conditions.

Amazon requested the SEC not to allow them to vote on the resolution, asserting that the issue related to normal business operations. However, an April 6 SEC letter disagreed.

According to Reuters, “In our judgment, the Tazehozi Proposal transcends normal business matters.”

Reuters asked Amazon to comment but did not receive an immediate response. A general meeting for shareholders will be held on May 25, according to the schedule.

However, the regulator didn’t support the separate shareholder resolution requesting an audit on workplace safety and health that was submitted to it by Domini Impact Equity Fund investors.

Noting the fact that the second resolution was “substantially duplicate” of the previous, the SEC stated that there was some support for Amazon’s request that they be allowed to skip voting. The SEC also said it did not recommend any enforcement actions if Amazon made such a request.

55% of Staten Island’s workers voted last week to create the U.S. Union at Amazon.

[ad_2]