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Monday, Oct 7
Amazon building 3 Polish logistics centers, hiring 6K workers
- The facilities will be situated in Western Poland, and could feature up to 9K temporary staff during peak periods to go with 6K full-time workers. Amazon (AMZN -1.4%) expects to open two of the warehouses in Aug. '14, and the other in mid-2015.
- Poland provides Amazon with lower labor costs than many nearby Western European markets. A Polish paper reported last week Amazon is thinking of building five logistics centers in Poland and the Czech Republic, as it contends with labor squabbles in nearby Germany. Each facility was estimated to cost €50M-€60M to build.
- Shares are underperforming this morning following a critical weekend Barron's column.