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

Amazon to raise minimum wage to $15 for USA employees

Amazon to raise minimum wage to $15 for USA employees

Amazon will be raising its minimum wage to $15 for all USA employees, the company said in an announcement Tuesday.

The new minimum wage will benefit more than 250,000 employees in the US, as well as over 100,000 seasonal employees who will be hired at Amazon sites across the country this holiday, the company said in a statement.

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. But for now, good news for Amazon workers, especially since the pay rises will come into play on 1st November - which means they should have a little extra money before Christmas.

Amazon has raised the pay of thousands of workers in the United Kingdom and U.S., after coming under increasing fire from campaigners over its low wages.

"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead", Jeff Bezos, Amazon's founder and CEO, said in a statement.

Amazon has faced criticism from labor rights groups and others over pay and working conditions at its warehouses.

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Amazon and Bezos this year have been criticized repeatedly for the wages Amazon pays warehouse workers, who make up the bulk of Amazon's workforce.

Amazon's market capitalization now stands near $1 trillion; it paid Bezos, its founder and CEO, $1.68 million previous year.

The federally mandated minimum pay hasn't risen since 2009.

Workers across the country have pushed for a $15 minimum wage as they have drawn attention to growing income inequality.

Amazon is also increasing wages in some areas outside the U.S. The company announced that the minimum wage will be 10.50 pounds an hour in London and 9.50 pounds in other parts of the UK. The company has named 20 cities as finalists, including Atlanta, Chicago and Washington, D.C.

The Obama administration had called for raising the minimum wage to $10.10, but the proposal went nowhere during an era of divided government.

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