Amazon Sets $15 Minimum Wage For U.S. Employees, Including Temps

02 October, 2018, 22:01 | Author: Gerard Cortez

Amazon is rolling out a $15-an-hour minimum wage for all of its US employees, a response to criticism that the company was profiting from work done by low-paid workers even as founder Jeff Bezos became the world's richest man.

Amazon.com Inc said on Tuesday it would raise its minimum wage to $15 per hour for USA employees from next month, seeking to head off criticism of working conditions at the world's second most valuable company.

At the new pay rate, an Amazon employee who makes minimum wage would need to work more than 3 weeks (133 hours) to buy one share of the company's stock, which now sits above $2,000. The rise for London workers will be 28%.

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

This minimum wage will apply to all Whole Foods employees as well. The policy goes into effect Nov 1. Retail rival Target announced in its holiday hiring release it would raise minimum hourly wage to $15 by 2020.

The new floor, which will take effect November 1, applies to more than 250,000 employees who work in the company's network of warehouses, logistics depots and customer service call centers, as well as the more than 100,000 temporary hires the company brings on to handle the holiday season's uptick in orders. Some employees who already make $15 per hour will also see a pay increase.

Fiery Kavanaugh denies quiet accuser Ford in Senate showdown
He said that in high school he drank beer with his friends and "sometimes I had too many". "It was created to scare me", he said. The outcome of this hearing is likely to determine whether Kavanaugh's promotion to the highest court in America is successful.

"The current rate of $7.25 was set almost a decade ago", said Jay Carney, senior vice president of Amazon Global Corporate Affairs, in the statement.

Amazon, which became just the second company ever to cross $1 trillion in worth as company earlier this year, said it plans to push the federal government to increase the minimum.

Amazon, which became the second company after Apple to cross $1 trillion in market value last month, paid its US employees on average $34,123 a year ago.

Amazon made the announcement on a company blog this morning.

Those in the United Kingdom will be paid £9.50, or £10.50 in London, compared to the minimum United Kingdom wage rate of £7.83 for over 25s and £7.38 for those aged 21 to 24.

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