Home Business AMAZON INVESTORS CALL FOR AUDIT OF WORKING CONDITIONS AS NEW DATA REVEALS INVESTORS ARE WORRIED ABOUT WORKERS’ RIGHTS

AMAZON INVESTORS CALL FOR AUDIT OF WORKING CONDITIONS AS NEW DATA REVEALS INVESTORS ARE WORRIED ABOUT WORKERS’ RIGHTS

by uma

 

  •       Over half of Brits questioned (57%) believe that Amazon should be doing more when it comes to how they trea        their workers
  •     Over a third (38%) of Brits would potentially be more likely to invest in Amazon if they treated their workers better
  •       70% of Amazon investors that were spoken to would support a shareholder proposal calling for an independent audit of the working conditions warehouse workers face, as the company is set to vote on this at their AGM
  •       Activist investment platform Tulipshare will present a shareholder resolution at Amazon’s AGM this month calling for an independent audit and report on the working conditions and treatment of warehouse workers

London, Tuesday 17th May 2022: Fresh concerns around the welfare of Amazon workers have arisen as the company’s AGM approaches next week, on Wednesday 25th May. New data reveals that potentially over half of the British Public believe Amazon should be doing more when it comes to how they treat their workers, and over a third of Brits spoken to agree that they would be more likely to invest in Amazon if they treated their workers better.

A recent poll conducted by activist investment platform Tulipshare found that when people invested in Amazon either directly, through a fund or trust, or via their pension, are questioned about workers’ rights issues over two thirds (69%) of respondents agree that they are worried about how the company currently treats its workers. This figure increases to 70% when Amazon investors are asked if they would support a proposal calling for an independent audit of working conditions that Amazon warehouse workers face, exposing huge demand from shareholders to see this put into action at this year’s AGM.

Amazon investors are set to vote on this issue through a shareholder proposal calling for the company to conduct an independent audit and report on the working conditions and treatment of warehouse workers at next week’s AGM after Tulipshare, an activist investment platform, successfully filed a shareholder resolution on behalf of retail investors. Amazon initially attempted to exclude this proposal from being put to a vote through a proxy fight, which included a no-action letter request to the Securities Exchanges Commission (SEC) earlier this year, but thanks to the SEC’s new guidance preventing companies from excluding proposals that raise significant social policy issues under the “ordinary business exception”, this rejection was overruled.

The top ten shareholders who include The Vanguard Group, Blackrock, SSGA Funds Management, T. Rowe Price Associates, Fidelity, Geode Capital Management LLC, Northern Trust Investments, and Capital Research will play a significant role in deciding whether Tulipshare’s proposal will pass at the company’s AGM.

Antoine Argouges, Chief Executive and Founder of Tulipshare comments: “It is shocking that Amazon have continued attempting to avoid dealing with undeniable workers rights violations, even though an enormous percentage of the general public are calling for a vote on the working conditions of their warehouse workers at this year’s AGM.

“Having our proposal on the ballot marks a momentous step in accountability. Thousands of retail investors expressed interest in our Amazon campaign and this AGM provides the opportunity for all shareholders to have their say on what has been an enormous workers’ rights issue. We hope to be joined by many shareholders and take the first step in securing a better future for all warehouse workers at Amazon.”

 

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