By Holly Bancroft | 29 October 2021
YAHOO! FINANCE (INDEPENDENT) — Amazon will spend billions of dollars to try and manage labour shortages and supply chain issues in the run up to Christmas, it has been reported.
The company’s chief executive, Andy Jassy, said that the retail giant expected to “incur several billion dollars of additional costs” due to “labour supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs”.
Mr Jassy added that the injection of funds would be “expensive for us in the short term, but it’s the right prioritisation for our customers and partners”.
He continued: “We’ve always said that when confronted with the choice between optimising for short-term profits versus what’s best for customers over the long term we will choose the latter – and you can see that during every phase of this pandemic.”
The comments come as Amazon revealed that its net income had dropped to £2.3bn in the third quarter of 2021. This is compared to £6.3bn in 2020. […]