Bezos' Final Letter... "Amazon Will Be the Best Employer on Earth"

Moved from CEO to Board Chair in Q3 this year
"Vision needed for employees' success" regarding union establishment failure
Refutes harsh working environment claims
"Will create the safest workplace"

▲Jeff Bezos, CEO of Amazon [Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Jeff Bezos, CEO of Amazon, who announced his retirement in the upcoming third quarter, stated in a letter to shareholders that a better vision is needed for the success of employees. He mentioned the recent failure to establish a labor union, emphasizing that this is by no means a fortunate event for Amazon. He particularly presented a new goal that "Amazon will be the best employer and the safest workplace on Earth."

According to the Wall Street Journal (WSJ) on the 15th (local time), CEO Bezos said in his annual letter to shareholders that day, "I believe we need to do better for our employees."

This is the last letter Bezos is sending as CEO. Earlier, he announced that he would step down from the CEO position in the third quarter and move to chairman of the board.

In the letter, Bezos mentioned the recent failure to establish a labor union, asking himself, "Do we take comfort in the recent union vote results in Bessemer?" and answered, "No."

Earlier, employees working at an Amazon warehouse located in Bessemer, Alabama, held a vote on whether to form a union. However, the union establishment was canceled as the number of opposing votes was more than twice the number of supporting votes.

Bezos stated, "Despite our achievements, it is clear that we need a better vision for the success of our employees." He added, "I feel no comfort at all from the voting results."

However, he denied criticisms that Amazon's labor practices or work environment are harsh. He directly refuted media claims that Amazon treats workers like robots.

Regarding this, Bezos said, "We set achievable goals based on tenure and actual performance data, not unreasonable targets," and "Amazon workers are sophisticated, thoughtful, and can choose where to work."

Bezos continued, "The reason we have come this far is that we have always pursued being the most customer-centric company on Earth," adding, "This will not change, and I hope employees will continue to practice this."

He then said, "But I will make an additional promise," presenting a new goal: "Amazon will be the best employer and the safest workplace on Earth."

To this end, Amazon announced that it is developing methods to reduce the number of injuries in Amazon warehouses. Since 40% of work-related injuries are musculoskeletal disorders, Bezos said they are developing a workforce rotation system among workers to reduce repetitive motions of warehouse workers. Amazon plans to invest more than $300 million this year alone in projects to create a safe workplace.

Meanwhile, Amazon has sent letters to shareholders every year since it was listed on NASDAQ in 1997. As of the 15th (local time), Bezos's fortune is $197 billion (approximately 220 trillion KRW), ranking first on the Bloomberg Billionaires Index.