Amazon minimum wage increase

[the janitor]

Amazon Raises Minimum Wage to $15 for All U.S. Employees, Including Full-Time, Part-Time, Temporary, and Seasonal

" “We listened to our critics, thought hard about what we wanted to do, and decided we want to lead,” said Jeff Bezos, Amazon Founder and CEO. “We’re excited about this change and encourage our competitors and other large employers to join us.”

Amazon’s public policy team will also begin advocating for an increase in the federal minimum wage.

“We will be working to gain Congressional support for an increase in the federal minimum wage. The current rate of $7.25 was set nearly a decade ago,” said Jay Carney, Senior Vice President of Amazon Global Corporate Affairs. “We intend to advocate for a minimum wage increase that will have a profound impact on the lives of tens of millions of people and families across this country.”

https://www.businesswire.com/news/home/20181002005317/en/Amazon-Raises-Minimum-Wage-15-U.S.-Employees

Their PR team are knocking the cover off the ball, even if they're looking a bit like born again populists.

More details:

"Amazon employee pay depends heavily on location: hourly workers in some areas of the country get paid $10 per hour while others are already making more than $15 per hour (employees who fall into the latter category can expect to see a slight pay bump as well). "

https://arstechnica.com/information-technology/2018/10/a-15-minimum-wage-comes-to-all-us-amazon-employees-starting-november-1/

I'm wondering what % of their workforce was getting government assistance to get by before and how much that will drop after this change, anyone know?

Glad to see them step up a bit, given the competitive carnage they've sewn in the retail sector.

 

[studog]

gives Amazon some breathing room from a federal inquiry on being a monopoly

 

[StuAzole]

SOCIALISM!

 

[Billy Ocean]

I will mark this as another W for Trump

 

[studog]

I will mark this as another W for Trump

how so

 

[the janitor]

I will mark this as another W for Trump

how so

He can take credit for almost getting them to pay as much as he negotiated the minimum will be for some auto workers in Mexico

 

[Ifallalot]

gives Amazon some breathing room from a federal inquiry on being a monopoly

I doubt it, they're not even close to being a monopoly.

 

[Autoprax]

I will mark this as another W for Trump

Bernie Sanders too.

But JB will win in the end.

 

[Ifallalot]

Is this supposed to be a gotcha of some kind?

Its simply good business to pay your employees well if you can afford it

 

[afoaf]

and by "want[ing] to lead" they mean "forcing an increase in their
competitors' costs" then they are definitely leading like whoa

they are going to steal your sales and turn the screws on your
operational expenses!

very lao tzu

 

[Autoprax]

The stock is down today.

I'm definitely not stocked about the stock.

 

[Billy Ocean]

and by "want[ing] to lead" they mean "forcing an increase in their
competitors' costs" then they are definitely leading like whoa

they are going to steal your sales and turn the screws on your
operational expenses!

very lao tzu

Yep

This is also why big fish welcome regulashunz

 

[Makule]

MAGA!

 

[2surf]

That’s how it works in the real world. Employees get disgruntled? Give them a raise, problem solved. $15 an hour is not a living wage, but it’s a good start.

 

[hammies]

I have heard from multiple sources that Amazon is kind of a shitty employer.

 

[silentbutdeadly]

I have heard from multiple sources that Amazon is kind of a shitty employer.

Me too.

 

[FecalFace]

That’s how it works in the real world. Employees get disgruntled? Give them a raise, problem solved. $15 an hour is not a living wage, but it’s a good start.

That's how it works in a fvcked up world.

Jeff Bezos is the richest man in the history of the world, literally, and his slaves are not making a living wage.

Is working for Amazon supposed to be for teenagers who live with their parents, like rigthies like to diarrhea about?

 

[laidback]

Do I still get free same day shipping?

 

[grapedrink]

Jeff Bezos is the richest man in the history of the world, literally, and his slaves are not making a living wage.

2017 Amazon profits: $3 billion https://www.digitalcommerce360.com/2018/02/01/amazon-grows-revenue-31-2017-profit-tops-3-billion/

number of employees: 566,000 according to a quick google search

Divide all of the profits per employee and you get $5300 per employee, if they all took home an equal piece of the pie. Divide that by 2000 hours/year (40 hrs/wk * 50 weeks) and that equals a $2.65/hour raise.

Would a $2.65/hour raise help? Absolutely. But even a raise based on all profits divided equally would not make it a living raise. After taxes, you are talking an extra $300/month. Again, that's with all of the profits divided amongst the workers, and nothing for the owners/investors.

CEO bonuses and compensation relative to what the plebians make are lame, but once you do the math, the "injustice" is largely symbolic.

 

[FecalFace]

Jeff Bezos is the richest man in the history of the world, literally, and his slaves are not making a living wage.

2017 Amazon profits: $3 billion https://www.digitalcommerce360.com/2018/02/01/amazon-grows-revenue-31-2017-profit-tops-3-billion/

number of employees: 566,000 according to a quick google search

Divide all of the profits per employee and you get $5300 per employee, if they all took home an equal piece of the pie. Divide that by 2000 hours/year (40 hrs/wk * 50 weeks) and that equals a $2.65/hour raise.

Would a $2.65/hour raise help? Absolutely. But even a raise based on all profits divided equally would not make it a living raise. After taxes, you are talking an extra $300/month. Again, that's with all of the profits divided amongst the workers, and nothing for the owners/investors.

CEO bonuses and compensation relative to what the plebians make are lame, but once you do the math, the "injustice" is largely symbolic.

$3 billion?

Oh please

Before any "profit" Amazon made, Bezos personally took $162 Billion home.