From Morningstar:

Activist investor Tulipshare has again requested that Amazon address warehouse worker conditions. This time, the proposal has the support of European asset manager Amundi. In 2023, the proposal received 35% support, a decrease from the previous year’s 44%. Amazon declined to comment on the 2024 proposal.

Tulipshare argues that Amazon’s workplace conditions warrant shareholder intervention, citing injuries and investigations. Amazon defended its safety record, noting improvements in incident rates and lost time.

Shareholders have demonstrated strong support for proposals addressing issues such as worker conditions, facial recognition, and human rights. However, overall support for environmental and social resolutions has declined.

Even if minority shareholders do not prevail due to the current voting structure, their proposals reflect investor sentiment and push for change. Responsible investors believe engaging companies on ESG issues is critical, even at controlled companies.

Tulipshare looks to major investors like Blackrock and Vanguard to support the resolution for Amazon warehouse workers. Activist shareholders believe that if enough minority shareholders vote in favor of a resolution, it will compel management and the board to take action.



Read more: Amazon is Under Pressure Over Warehouse Safety Again