Amazon Raises Its Minimum Wage to $15 For All US Workers
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When Amazon recently became the 2nd trillion dollar company ever, they were criticized for not paying their (over-worked) employees a living wage and barely paying any federal taxes. Bezos, the richest person ever in the world (his personal net worth is estimated at $165 billion), was heavily criticized when he then tried to get away with donating $2 billion to charity instead of raising wages.
I guess the backlash worked because Amazon just announced that they will be raising starting pay to $15 an hour for ALL US workers effective November 1st, including full-time, part-time, and temp workers, That is more than double the federal minimum wage.
Amazon pledged to also begin lobbying for a raise in the $7.25 an hour federal minimum wage, which hasn’t been changed since 2009 (probably to ensure they won’t lose sales to companies who can beat Amazon’s prices because they have lower payroll costs).
https://money.cnn.com/2018/10/02/technology/amazon-minimum-wage/index.html
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@fivetalents good to hear!
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New development… as a result of increased wages, employees will lose monthly bonus incentives and stock awards. Currently, hourly employees receive 2 stock shares when hired and one share every year afterwards. An Amazon share is currently trading at $1,952. Employees are concerned that the lost bonuses (as high as 16% during the holidays) and stocks will result in lower overall income earnings.
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This goes into effect today.
