Worker welfare is having a moment on Wall Street.
FILE PHOTO: A man wears a protective mask as he walks past the New York Stock Exchange on the corner of Wall and Broad streets during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. REUTERS/Lucas Jackson/File Photo
Amazon shares plunged over 7% when Bezos announced the outlay would wipe out its next quarterly profit but have since pared much of those losses and are up 28% since the start of this year. The letter now has 322 signatories from managers overseeing some $9.2 trillion in assets - nearly double the assets at the time the letter was first released on March 26.
“It is too early to know how the pandemic will affect the balance between corporate social responsibility and pursuit of shareholder value above all else,” said Beth Allen, spokeswoman for the Communications Workers of America.
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