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Amazon Raises Minimum Wage to $15 for All U.S. Employees
#1
https://blog.aboutamazon.com/working-at-...-employees
Amazon today announced it is increasing its minimum wage to $15 for all full-time, part-time, temporary (including those hired by agencies), and seasonal employees across the U.S.—effective November 1. The new Amazon $15 minimum wage will benefit more than 250,000 Amazon employees, as well as over 100,000 seasonal employees who will be hired at Amazon sites across the country this holiday.
“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.”
Employees will continue to receive Amazon’s industry-leading benefits, including:
  • Comprehensive healthcare, including medical, dental, and vision coverage
  • Up to 20 weeks of paid parental leave
  • 401k matching
  • Career Choice, which pre-pays 95% of associates’ tuition for courses in high-demand fields, whether those jobs are at Amazon or another company
  • Career Skills, which trains hourly associates in critical job skills like resume writing, how to communicate effectively, and computer basics
With more than 575,000 employees worldwide, Amazon was named #1 on LinkedIn’s 2018 Top Companies list, ranks #1 on The Harris Poll’s Corporate Reputation survey, and #2 in Fortune’s World Most Admired Companies. Learn more about working at Amazon.
Does this apply to Whole Foods and your other subsidiaries?
Yes. The new Amazon $15 minimum wage applies to all U.S. employees at Amazon and its subsidiaries.
How are you going to work with Congress to raise the federal minimum wage?
Our public policy team will work with policymakers in Washington, D.C., to advocate for a higher federal minimum wage.
What do you want the federal minimum wage to be raised to?
We believe $7.25 is too low. We would look to Congress to decide the parameters of a new, higher federal minimum wage.
Is anything changing with Amazon’s RSU program?
Yes, 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. The net effect of this change and the new higher cash compensation is significantly more total compensation for employees, without any vesting requirements, and with more predictability.
Is it required to hit any incentive targets in order to get the $15 minimum wage?
No, we are phasing out the incentive pay component and the $15 will be a simple minimum with no targets required.
Are any health care or other benefits also changing?
No, Amazon’s industry-leading benefits package is not changing. We will continue to provide comprehensive healthcare on day 1, company-paid life and disability insurance, up to 20 weeks of paid parental leave, 401k matching, and Career Choice, which pre-pays 95% of associates’ tuition for courses in high-demand fields, whether those jobs are at Amazon or another company.
What about Amazon’s hourly Operations and Customer Service employees who are already making $15? Will they see an increase?
All of Amazon’s hourly Operations and Customer Service employees will see an increase, including those who are already making $15.
Will this be reflected in your quarterly earnings report?
Yes – the effect of this additional expense will be incorporated into our earnings guidance.
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#2
Some Amazon states are going to be screaming about that! Especially the ones that have no state minimum wage AND which are the most corrupt: MS, LA, AL, SC and TN. If it wasn't for the Federal minimum wage, states like those would probably be paying 5 cents an hour. Who says slavery is dead in the South?
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#3
who cares what the states think,it's his company and he can do what he wants too

by increasing wages and having a better benefits package he develops employee loyalty and people wanting to work there,he gets to keep the good ones and has pick of the litter for replacements
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#4
Oh, I like it! It's nice to see a company taking these steps, and not groveling to the politicians.
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#5
It's news from 100 years ago!!!

Ford drove his employees extremely hard, and was tough on them in other ways.
So, to stop turnover, he famously instituted 'Five dollars a day.'

Of course, he said it was Strategic: He wanted his workers to be able to afford his cars, but in reality it was a more fundamental business decision.

And, like Train has mentioned, others were really POed he did it.
Sometimes dweller in 237k miles '07 Grand C-van w/ a solar powered fridge and not much else
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#6
I'm so glad to see this, it paves the way for other large corporations to have to follow suit. The federal minimum wage is disgustingly low and I consider it legal slavery. I'd go into it further, but it will become much too political too fast.
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#7
"Hmmmmm, van dwellers....... Let's see: Walmart for $7.25 or Amazon for $15?

When a business is paying twice the going rate, they can (theoretically) pick the best employees.
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#8
The minimum starting wage at Walmart stores is currently $11 plus benefits, company matched stock purchase, 401K, matched insurance, bonuses, maternity leave, paid vacations, holiday pay, associate discounts, etc etc....The starting wages at distribution centers (more similar to Amazon warehouses) is somewhat higher. 

Of course TrainChaser is anti-Walmart and pro-Amazon so I always expect those types of comments.

At least get your facts correct, please.
Wondering about Wandering.
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#9
Maybe at the WallyWorld where you work...  

I just looked up GlassDoor.com and Indeed.com and they showed Walmarts that are paying $9 - $9.16/hr in some states.  The average weekly work period is 34 hrs, not 40.  $9.16 x 34 hrs = $311.44.  If they were working for a company that didn't dock them 6 hrs a week, they would be making $366.40/wk.  If a person included the 6 hrs that WM isn't paying in the equation:  $311.44/wk divided by 40 hrs would be $7.78/hr. When one of the $11 places docks the employees 6 hrs a week, they're really making ($1 x 34= $374.00 divided by 40 hrs = $9.35.) At that wage, the WM employee is losing $2,858 a year, compared to a business next door that is paying the same wage for 40 hours.

Government math and WallyWorld math isn't quite the same math that everyone else in the Real World uses.

I have to use Amazon to find some things that aren't carried locally, but I CERTAINLY AM anti-Walmart.  At least you're right about something.  Big Grin
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#10
(10-03-2018, 12:15 PM)TrainChaser Wrote: I just looked up GlassDoor.com and Indeed.com and they showed Walmarts that are paying $9 - $9.16/hr in some states.  The average weekly work period is 34 hrs, not 40.  $9.16 x 34 hrs = $311.44.  If they were working for a company that didn't dock them 6 hrs a week, they would be making $366.40/wk.  If a person included the 6 hrs that WM isn't paying in the equation:  $311.44/wk divided by 40 hrs would be $7.78/hr.  When one of the $11 places docks the employees 6 hrs a week, they're really making     ($1 x 34= $374.00 divided by 40 hrs = $9.35.)  At that wage, the WM employee is losing $2,858 a year, compared to a business next door that is paying the same wage for 40 hours.

Government math and WallyWorld math isn't quite the same math that everyone else in the Real World uses.

I have to use Amazon to find some things that aren't carried locally, but I CERTAINLY AM anti-Walmart.  At least you're right about something.  Big Grin

If you don't work 40 hours, but only 34 hours, you aren't being 'docked'....it would be illegal to 'dock' someone 6 hours of pay that they earned.

Your math is way off. Yeah, I could do creative math and come up with some very large figures for pay I never earned because.....you know...I didnt work those hours. Same thing with Amazon 'seasonal' employees....hmmm....that's a LOT of money they were 'docked' for January thru September when they didnt work for Amazon...they were not needed for that time, so it must be the same as being 'docked'. Fair is fair. 

Maybe you should read the information right from the Walmart corporate website, rather than outdated information from third-party sites. After all, you have quoted information directly from Amazon.  Again, fair is fair.

Amazon pay increases will help 350,000 employees, starting in November. Ok...nice.

But Walmart raised starting wages for one MILLION employees, last January.

Run the numbers, which event will or has benefited more workers?

One thing to keep in mind with any employer: Raising the employees wages, often results in higher prices passed on to the consumer. 

Inflation is not just a theory, it is a fact. 

Some small business cut back on the workforce or even go out of business as a result of higher minimum wages. After all, why hire an 18 year old at $15 an hour for sweeping the floors or flipping burgers when you can simply put more workload on existing employees.

There is NO free lunch.
Wondering about Wandering.
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