Amazon Hiring 5k Warehouse Staff to Meet Demand

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July 29 (Bloomberg) -- is boosting staff in 17 U.S. warehouses, adding more than 5,000 full-time jobs to meet brisk demand for products sold by the world’s biggest Web retailer. Cory Johnson reports on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

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Thank you read is going on a hiring spree.

A plan to add more than 5000 full-time jobs to their warehouse operations ahead of a president obama visit to an amazon warehouse in tennessee.

That will take place tomorrow.

For more on the growing workforce, we bring in "bloomberg west" editor at large cory johnson who recently visited a fulfillment center.

Talk about this new addition to the human resource department of

This has been fueled by wall street because the company is not enormously profitable.

They have sold a lot of stock in raise money in that fashion, but the build on for amazon, you can see it in all sorts of aspects of their business that the headcount is one of them.

-- business.

The headcount is one of them.

Add to that the web services businesses, and you have a company that is well over 15 years old but is in a major expansion.

A company with 88,400 employees at the end of last year is a nearly 60% increase from the previous year.

The company is growing by leaps and bounds.

How does this reflect any change in amazon's actual business?

They are pushing for it to expand the distribution business.

When they have decided to embrace local and state sales taxes it changed strategy of having distribution at the film and centers being -- fulfillment centers being closer to consumers.

They are getting closer to major cities as opposed to major distribution hubs and the result is a lot more building and more hiring, and allow more spending.

The capital expenditures for this company are enormous and growing at an incredible pace.

They have spent more in the first six months of this year in capital expenditures than they did in all of two years ago.

The growth in expenditures is so big, but that is also on the cash flow statement.

When those bleed into the income statement overtime, the operating margins of the business are falling.

It is barely profitable because of all the spending and all of the hiring.

The president will speak at this amazon warehouse tomorrow in tennessee.

Do we know if these are union workers or if they get full benefits like health care and what kind of pay they actually get?

Asked i would doubt they are union workers -- i would doubt they are annual -- union workers.

It is important to note they do a lot of seasonal hiring.

The fourth quarter is huge for any retailer, amazon especially.

Temporary hiring happens at these places all over the world, and again, they are opening these fulfillment centers all over the world, not just in the u.s., which is where the biggest expansion is public.

Thank you, cory johnson.

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