Many U.S. businesses have felt political pressure from president-elect Donald Trump to create jobs. But Amazon's jobs addition, announced Thursday, would be par for the course for a company that has rapidly expanded since its inception, Youssef Squali, managing director and global head of internet and media equity research at Cantor Fitzgerald, told "Closing Bell" on Thursday.
"I think it's going to serve as a way to mend fences between Bezos...and Trump," Squali said. "That said, from a real employment standpoint — if you look at Amazon's historical track record — they've grown their full-time employees anywhere between 35 [percent] to 45 percent. If you spread this out over 18 months, it gets you to around 36 percent."
For instance, Amazon employed 117,300 full-time and part-time employees by the end of 2013, according to its annual report, and grew that number to 230,800 full-time and part-time employees by the end of 2015.
Still, incoming White House press secretary Sean Spicer said in a daily briefing that "the president-elect was pleased to have played a role in that decision by Amazon," noting the announcement was made " after the president-elect met with heads of several other tech companies and urged them to keep their jobs and production inside the United States."
"[Trump] may not get credit, but I'm sure he'll take it," Christian Magoon, founder and CEO of Amplify Exchange Traded Funds, told "Closing Bell" on Thursday. "This is definitely going to help Amazon and Jeff Bezos going forward with the Trump administration."
Amazon has made clear plans for heavy investment in retail logistics, content and cloud. That's likely to continue, Squali said.