Amazon (AMZN) workers at the e-commerce company’s Raleigh, N.C. warehouse are preparing to vote on whether to join the Carolina Amazonians United for Solidarity and Empowerment (CAUSE) union. The voting starts today and lasts through Friday, giving the employees plenty of time to consider how they will cast their votes.
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The CAUSE union is already revealing planned demands for Amazon, such as increasing the hourly wage of its workers to $30 while extending lunch breaks from half an hour to a full hour. It also seeks better job protection for employees. CAUSE secretary Italo Medelius-Marsano claims Amazon can afford to make these changes.
Of course, the workers at the Raleigh warehouse must first vote in favor of joining CAUSE before these changes can be argued for. The unionization effort requires a simple majority to be passed but could face pushback from Amazon as it tries to avoid unionization.
What This Means for AMZN Stock
If the Amazon warehouse workers unionize, there’s no guarantee the e-commerce giant will care. A similar case happened with a Staten Island warehouse in 2022. While the workers voted to unionize, Amazon has yet to acknowledge or negotiate with them.
Amazon also reportedly attempted to stop the unionization of a Whole Foods location in Philadelphia and argues that union members coerced its employees to vote in favor of it. Similar claims have been made at other Amazon locations voting on joining unions.
Amazon doesn’t want unions forming at its workplaces as it would cut into the company’s profits. That could be bad news for AMZN stock, upsetting shareholders. Even so, the shares are up 0.51% today.
Is AMZN Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Amazon is Strong Buy based on 45 Buy and one Hold ratings over the last three months. With that comes an average price target of $267.18, a high of $306, and a low of $207. This represents a potential 15.99% upside for AMZN stock.
