Many immigrant workers at Amazon (AMZN) warehouses are now losing their jobs because of recent changes to U.S. immigration policy, according to CNBC. These workers, many of whom came from Haiti and other countries under humanitarian parole programs, were previously allowed to live and work in the U.S. under a humanitarian parole program while applying for permanent residency. However, that protection was recently revoked by the Trump administration. As a result, the e-commerce giant began asking affected workers to show updated work permits or risk being put on unpaid leave.
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Indeed, those who couldn’t renew their documentation in time were dismissed, just as the company was preparing for its major Prime Day sales event. While Amazon didn’t specify the number of employees let go, spokesperson Richard Rocha confirmed that the company had prepared for possible staff changes and had worked to comply with federal laws. “We’re supporting employees impacted by the government’s recent changes in immigration policy,” Rocha said. He added that Amazon gave these workers access to legal resources, counseling, and other support.
Nevertheless, it is worth noting that the impact goes beyond Amazon. Other companies, such as Walmart (WMT) and Disney (DIS), are also being forced to fire or suspend workers due to the changing rules. Many Haitian workers say they are being unfairly forced to return to a country still plagued by violence, political instability, and widespread displacement. In addition, some who lost their jobs say they came to the U.S. legally and contributed to the economy through work and taxes. Despite a 2024 extension of Temporary Protected Status through 2026, many now face deportation orders.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 45 Buys and one Hold assigned in the past three months. Furthermore, the average AMZN stock price target of $246.60 per share implies 10.9% upside potential from current levels.
