Amazon stock rose in after-hours trading Monday as the e-commerce behemoth said it would hire an additional 100,000 employees in the U.S. to meet the rising demand in online shopping amid the coronavirus outbreak.
"We are opening 100,000 new full and part-time positions across the U.S. in our fulfillment centers and delivery network to meet the surge in demand from people relying on Amazon's service during this stressful time, particularly those most vulnerable to being out in public," Amazon said in a blog post.
Amazon also said it would raise wages. The company plans to invest more than $350 million globally to increase pay by $2 per hour in the U.S. and in other countries for employees and partners who are in fulfillment centers, transportation operations, stores or those making deliveries.
Amazon stock climbed 1.7%, near 1,717, during after-hours trading on the stock market today. Shares tumbled during Monday's major sell-off, dropping 5.4% to 1,689.15.
Amazon Stock: Difficulties With Deliveries
The $2-per-hour wage increase will last through the end of April. Amazon currently pays $15 per hour.
"We know many people have been economically impacted as jobs in areas like hospitality, restaurants, and travel are lost or furloughed as part of this crisis," Amazon said. "We want those people to know we welcome them on our teams until things return to normal and their past employer is able to bring them back."
As the coronavirus outbreak has escalated, Amazon has seen rising demand for products but has also faced difficulties with some deliveries.
"Inventory and delivery may be temporarily unavailable due to increased demand. Confirm availability at checkout," Amazon said in a notice to customers this weekend.
Amazon said those interested in applying for a job can learn more at www.amazon.com/jobsnow.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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