Amazon shares closed lower in the US Monday, as it’s founder and CEO Jeff Bezos, said that his firm would continue to work with the US Department of Defence. He added that as a senior leader, he had to make tough decisions – even when they’re unpopular – and that working to help support the defence of the US, was the right thing to do.
Amazon shares ended the US Monday session 1.55% lower at $1,760.95. However, the stock is currently a little higher in out-of-hours activity.
Amazon supports US DoD
Speaking at the Wired 25 tech event in San Francisco Monday, Bezos told the audience that Amazon would continue to work with and support the US Defence department, despite the unease shown by some of his company’s staff.
“If big tech companies are going to turn their back on the DoD, this country is going to be in trouble”, Bezos said.
“We are going to continue to support the DoD, and I think we should,” the Amazon CEO said. Bezos. “One of the jobs of senior leadership is to make the right decision, even when it's unpopular.”
Amazon remains in the running to win a $10 billion cloud contract for the US DoD, after Google has said it is no longer working towards winning it.
Amazon works to raise US recycling rates
Separately, Amazon is investing $10 million into Closed Loop Fund to help improve recycling levels across the US.
Recycling across the US isn’t as prevalent as it could be and this investment from will help increase the number of curb side recycling options for US residents.
“This investment will help build the local capabilities needed to make it easier for our customers and their communities to recycle and to increase the amount of material recycled across the country,” said Dave Clark, Amazon’s Senior Vice President of Worldwide Operations.