Amazon CEO and founder Jeff Bezos, who is worth $164billion, said he had 'listened to his critics'
Amazon is boosting its minimum wage for all U.S. workers to $15 per hour starting next month after receiving criticism for the high pressure, low paying conditions hundreds of thousands of employees endure in its warehouses.
Until now, minimum wages across its US warehouses ranges per state from around $10-an-hour in Texas to $13.50 in parts of New Jersey and California.
The new standardized minimum wage will benefit 350,000 people including the 250,000 it already has on its payroll and an additional 100,000 who will be hired for seasonal work.
The new wages will go into effect on November 1 and will also apply to Whole Foods workers.
Amazon's hourly operations and customer service employees, some who already make $15 per hour, will also see a wage increase and minimum wages will also be raised in some of its overseas operations.
In Britain, it will be £10.50 an hour in London and £9.50 in other parts of the country. Until now, it had been £8 an hour.
While the minimum wage increase heralds a boost of up to 36 percent for some workers, the company quietly included in the announcement that it was phasing out its Restricted Stock Unit program.
'We’ve heard from our hourly fulfillment and customer service employees that they prefer the predictability and immediacy of cash to RSUs.
'We will be phasing out the RSU grant program for stock which would vest in 2020 and 2021 for this group of employees, replacing it with a direct stock purchase plan before the end of 2019,' it said.
Amazon individual share prices have been unstoppable in the last year. Last month, it became the second publicly traded company to pass the $1trillion threshold.
In a statement on Tuesday, CEO Jeff Bezos said: 'We listened to our critics, thought hard about what we wanted to do, and decided we want to lead.
'We’re excited about this change and encourage our competitors and other large employers to join us.'
The announcement did little to affect share prices in pre-market trading. As of 7.30am, they were down by less than 1 per cent to $1,993.
There are already 250,000 people in the US working in Amazon's warehouses and in Whole Foods. Another 100,000 will be hired for seasonal work and all of them will enjoy the new minimum wage. Pictured, an Amazon fulfillment center
The company is poised to hit and stick at $1trillion in market capitalization. While the average warehouse salary is around $28,000, workers in its corporate sphere enjoy six-figure salaries and sought after benefits
The company has come under fire in the past for conditions in some of its warehouses across the country.
In a scathing expose earlier this year, some spoke anonymously to reveal that they often resorted to urinating in trash cans because they were too scared to take time to go to the bathroom in case they missed their packing targets.
An undercover journalist who worked in one of the warehouses in 2016 reported others urinating in bottles for the same reason.
He described it like a 'prison' and said employees timed workers' bathroom breaks in the warehouse he worked in in Britain.
By contrast, jobs in its corporate sphere boast some of the sought-after perks Silicon Valley is known for.
The average salary of an Amazon employee is $100,000 and benefits include stocks and generous 20-week parental leave.
The company has more than 575,000 employees globally.
Other retailers have vowed to hit similar milestones. Target announced earlier this year that it would increase its minimum wage to $15 an hour by the end of 2020.
The company raised its minimum wage to $11 earlier this year. Walmart's is also $11.
hienalouca.com
https://hienalouca.com/2018/10/02/amazon-raises-minimum-wage-to-15-in-response-to-criticism-over-conditions-in-its-warehouses/
Main photo article
Amazon CEO and founder Jeff Bezos, who is worth $164billion, said he had ‘listened to his critics’
Amazon is boosting its minimum wage for all U.S. workers to $15 per hour starting next month after receiving criticism for the high pressure, low paying conditions hundreds of ...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves Online news HienaLouca
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