As the coronavirus outbreak continues unabated and people remain indoors, the need for food and grocery delivery services has increased multiple-fold. In this scenario, retailers, ecommerce companies and fast food chains are struggling to meet the needs of customers and are looking to hire more people to tackle this situation. Let’s take a look at few of them:
Walmart (NYSE: WMT) announced its plans to hire 150,000 employees on a full-time, part-time and temporary basis for its distribution and fulfillment centers. The retailer also declared bonuses amounting to around $550 million for its hourly associates.
Amazon.com (NASDAQ: AMZN) is looking to hire 100,000 full-time and part-time employees for its fulfillment centers and delivery services. The ecommerce giant also announced an investment of over $350 million to increase the pay for its employees in North America and Europe.
PepsiCo Inc. (NASDAQ: PEP) said it is planning to hire 6,000 full-time employees across the US over the coming months. The company also announced additional benefits and compensation for its employees in the US which will include a minimum of $100 per week over the next month. This compensation covers over 90,000 frontline employees.
As more people remain inside their homes, the demand for pizza delivery has seen a spike. To meet this demand, Domino’s Pizza (NYSE: DPZ) is hiring both full-time and part-time employees. The company said it is looking to hire around 1,000 employees across more than 100 stores in Greater Chicago for various positions.
Shares of Walmart were up over 2% in morning hours on Monday while Amazon’s stock was also in green territory. PepsiCo’s shares were up 6.7% while Domino’s shares were up 8.7%.
Food companies have performed better than most other sectors during the pandemic as government restrictions forced people to cook at home. Investors, in general, find the stocks of such companies
Shares of Beyond Meat Inc. (NASDAQ: BYND) gained 20% on Friday, recovering from the beating it took following the disappointing first quarter 2022 earnings report it delivered earlier this week.
Solar panel manufacturer JinkoSolar Holdings Co. (NYSE: JKS) has reported a sharp increase in first-quarter revenues, reflecting higher production and shipment of modules. Meanwhile, the company's net profit declined year-over-year. Net