Amazon partners with LYFT to expand workforce as demand rises for its retail services

Amazon partners with LYFT to expand workforce as demand rises for its retail services
  • Amazon to expand workforce as online orders continue to rise amidst the Coronavirus lockdown.
  • Lyft recommends drivers to opt for deliverers, shoppers, or warehouse workers jobs at Amazon.
  • Amazon faces scrutiny from NYC regulators for allegedly firing worker for leading strikes.

With Coronavirus restricting millions of Americans to their homes, Amazon’s (NASDAQ:AMZN) online retail services that pledge to deliver food, groceries, and other essential items to the doorsteps have seen an unprecedented surge in orders. The U.S tech giant is taking all necessary measures to ensure efficient services for its U.S customers amidst the ongoing pandemic.

In recent news, Amazon partnered with the U.S-based ride-hailing company LYFT (NASDAQ:LYFT) to meet its workforce requirements as its retail services continue to see an increase in demand.

LYFT Loses Demand Due To Coronavirus Restrictions

As the government recommends Americans to avoid all unnecessary traveling, the demand for the ride-hailing services has gone sharply down in the past few weeks. Collaborating with Amazon, LYFT now wants its drivers to opt for additional income opportunities at Amazon as deliverers, shoppers, or warehouse workers.

The partnership marks a win-win deal for both companies as it enables Amazon to increase its workforce and cope up with the rising online orders all the while ensuring LYFT’s drivers from losing income or being out of a job amidst the ongoing health crisis.

Amazon is currently offering an increased £13.7 hourly wage to its shoppers and warehouse workers that makes it an even lucrative option for the LYFT’s drivers. The drivers, as per Amazon, will also be given an option to come on board as the delivery service partner (DSP) or a driver for Amazon Flex.

Amazon Faces Scrutiny From NYC Regulators

In separate news, the sharply increasing orders is not the only challenge that is currently in the face of Amazon. The online retail giant recently fired Chris Smalls over leading the strikes against Amazon for insufficient measures to protect its workers against the flu-like virus. The move recently put the company on the NYC regulators’ radar. Amazon, however, continues to argue that the worker was fired with a due cause.

At the time of writing, Amazon is exchanging hands at £1,566 per share in the stock market that translates to just over 10% decline as compared to its record-high in February 2020. Losing its trillion-dollar privilege, the company is currently valued at £784 billion ($970.59 billion).

LYFT, on the other hand, is currently trading at £21.20 per share in the stock market that marks an around 50% decline in 2020 so far. The ride-hailing company currently boasts a market cap of £6.65 billion.

By Wajeeh Khan
Mr. Khan specialises in Public Health by academia but is a trader by passion. Taking up two new hobbies of writing and trading in his teen years, he is now a professional trader and news writer with over 5 years of experience in various financial markets. Khan is passionate about bringing insightful articles to his readers and hopes to add value to their portfolios.
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