Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Comments
Bookmark
Share
Add to Playlist
Report
Amazon workers hit the picket lines
The Street
Follow
12/19/2024
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Amazon is in or a rough holiday season.
Category
🥇
Sports
Transcript
Display full video transcript
00:00
I'm Conway Gittens reporting from the New York Stock Exchange.
00:02
Here's what we're watching on the street today.
00:04
The Dow staged a minor recovery Thursday after the Federal Reserve's interest rate outlook
00:10
prompted an 1,100-point drop the day before.
00:13
The rest of the market added to losses.
00:16
On the bright side, November existing home sales were the strongest since March.
00:21
Sales were up 6.1 percent over the past 12 months, which is the best annual gain in nearly
00:27
three and a half years.
00:29
The median sales price rose to $406,100.
00:34
Turning to other business headlines, in what the Teamsters Union calls the biggest-ever
00:39
work stoppage at Amazon, seven locations have been hit with a worker's strike.
00:44
Drivers at facilities in Queens, Atlanta, San Francisco, a suburb of Chicago, and three
00:50
in South California are participating.
00:53
Workers are calling on the world's second-largest private employer to come to the bargaining
00:57
table.
00:59
They complain Amazon's aggressive order fulfillment targets are taking a toll on their health.
01:03
The striking workers, however, are just a small fraction of the more than 800,000 employed
01:09
by Amazon across 600 locations.
01:13
Because of that, the strike is not expected to have a big impact on Amazon's wide distribution
01:18
network as the holiday shopping season enters its home stretch.
01:23
The strike, however, does represent a growing problem for Amazon.
01:27
Worker dissatisfaction.
01:30
Even a Senate report sided with workers, saying Amazon is pushing warehouse workers to the
01:34
brink, causing a spike in on-the-job injuries.
01:38
As a result, Amazon could face fines of up to $100,000 levied by the Occupational Health
01:44
and Safety Administration.
01:46
Amazon says the data used for the report are misleading and it takes seriously the health
01:51
and safety of its workers.
01:54
That'll do it for your daily briefing.
01:55
From the New York Stock Exchange, I'm Conway Gittins with The Street.
Recommended
2:03
|
Up next
Amazon unveils Amazon Haul S_PM
The Street
11/13/2024
2:16
Amazon forces corporate employees back to the office
The Street
9/17/2024
2:05
Amazon could pass Walmart in revenue for the first time
The Street
2/6/2025
1:47
Amazon unveils “Amazon Saver” food line
The Street
9/10/2024
2:00
New Amazon Prime benefit will let you save at the pump
The Street
10/25/2024
1:49
Amazon has a Prime Day problem
The Street
7/17/2024
1:58
UPS to reduce Amazon shipments by 50%
The Street
1/30/2025
1:57
Warner Bros. Discovery to match Amazon’s NBA offer
The Street
7/23/2024
1:18
Amazon is making a fan-favorite even better
The Street
6/17/2025
1:14
Amazon is making Prime Day a 4-day event
The Street
6/17/2025
1:59
33,000 Boeing workers hit the picket lines
The Street
9/13/2024
2:02
Boeing workers vote to accept new deal
The Street
11/5/2024
1:42
Amazon rolls out grocery delivery service for Prime members
The Street
12/8/2023
1:54
Ultra big televisions are getting cheaper
The Street
11/6/2024
1:57
Boeing implements hiring freeze amid strike
The Street
9/16/2024
1:00
The History Of Amazon Prime Day
The Street
6/30/2023
2:01
Boeing withdraws pay raise offer to striking workers
The Street
10/9/2024
2:01
Boeing increases offer to striking workers
The Street
9/24/2024
2:00
Port strike over as workers agree to new deal
The Street
10/4/2024
2:03
Americans are ditching dollar stores
The Street
9/4/2024
1:55
The holiday shipping battle is underway
The Street
11/8/2024
1:51
Dollar stores react to Trump tariffs
The Street
12/5/2024
1:54
Moviegoers flock to see Thanksgiving-weekend blockbusters
The Street
12/2/2024
1:51
Judge strikes down ban on “noncompete” agreements
The Street
8/21/2024
1:47
Cargill to lay off 5% of global workforce
The Street
12/3/2024