(Reuters) – Amazon.com Inc (AMZN.O) on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19, providing staff with protective gear and raising hourly wages.
FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, April 22, 2020 after Amazon extended the closure of its French warehouses until April 25 included, following dispute with unions over health protection measures amid the coronavirus disease (COVID-19) outbreak. REUTERS/Pascal Rossignol
Shares of Amazon, the world’s largest online retailer, fell 5% in after-hours trade.
Online retailers have seen demand spike to levels more typical of the winter holiday season as governments around the world have ordered people indoors in efforts to contain the spread of the virus. Amazon has been at