Published: Tue, October 02, 2018
Money | By Armando Alvarado

Amazon Makes a Big Move on Minimum Wage

Amazon Makes a Big Move on Minimum Wage

Sanders went so far as to propose a bill that would tax companies an amount equal to the federal benefits that their employees rely on to supplement low wages-calling it the Stop BEZOS Act (for "Stop Bad Employers by Zeroing Out Subsidies") after Amazon CEO and founder Jeff Bezos.

The online retailing giant, which has several huge depots in Doncaster, is raising pay for hundreds of thousands of workers in the USA and the UK.

Amazon is boosting its minimum wage for all USA workers to $15 per hour starting next month. According to Amazon, more than 250,000 employees including over 100,000 seasonal workers will benefit from the increased pay.

His Twitter account, which has almost 9 million followers, frequently points out the disparity between Amazon's median employee pay and the vast fortune of CEO Jeff Bezos.

Amazon will pay all of its US employees a minimum of $15 an hour, more than double the federal minimum wage of $7.25. "The current rate of $7.25 was set almost a decade ago".

As Amazon and Whole Foods undergo a minimum wage hike to $15, Sen.

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Amazon said its public policy team will start pushing for an increase in the federal minimum wage of $7.25 per hour.

Workers have been protesting against fast food chains like McDonald's Corp and demanding wage increases since 2012 but conditions at Amazon's warehouses, distribution centers and for its couriers have been drawing media attention and criticism for some time in both the United States and Europe. Workers outside of London will receive £9.50 an hour, up from £8 an hour. The bill, which had no chance of passing and was created to draw attention to Sanders' Amazon criticism, would tax large companies for every dollar their workers receive in safety net benefits like food stamps. Target recently vowed to raise its minimum wage to $15 per hour by 2020.

The new wage, which is higher than the Living Wage Foundation's suggested rates, will come into place next month, just as Amazon ramps up recruitment for its busy Black Friday and Christmas trading period.

It's unclear how the minimum wage increase will bolster Amazon's median compensation for its workforce, but it's safe to say it's headed up.

Neil Saunders, managing director of the consultancy GlobalData Retail, said that the move could help Amazon recruit workers.

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