Amazon Cuts Some Pay Incentives As It Raises Minimum Wage

Here's why Amazon raised its minimum wage to $15 an hour

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

"Amazon is much above minimum wages for delivery staff in all states, and so in India, they actually do not need to do any correction", Karanth said. According to a survey of job postings, starting pay for such workers can be as low as $10 an hour or as high as $14.

- Amazon made a big splash this week with its $15 an hour minimum wage announcement, but lost in the fine print: Existing warehouse workers will no longer receive stock in the company or collect bonuses. But Amazon says its workers prefer the higher wages to bonuses.

Bloomberg on Wednesday reported that Amazon will remove workers' bonuses and stock awards. Average hourly wages for retail workers, excluding managers, rose 4 percent in August compared with 12 months earlier.

The wage increase applies for full-time, part-time and temporary workers.

Instead, Amazon will offer a direct stock purchase plan, which usually allows an investor to purchase stock without a broker. "In fact, recruiters feel Amazon is the most attractive brand to attract talent, from the wages perspective".

She added that the wages of ecommerce delivery personnel, "without considering incentives and additional benefits, are already above the mandated minimum wages in different parts of the country".

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Low-paid workers "get kicked the most in the recession, and they generally benefit more later in the boom", said David Neumark, an economist at University of California, Irvine.

It remains to be seen whether Amazon's decision to do this generous act by raising the minimum wage will satisfy its critics, but surely this move is a step in the right direction for the company's workforce, which would undoubtedly be jealous of it all employees worldwide.

After Amazon announced it would raise its minimum wage to $15, Senator Sanders put his sights on another target: McDonald's. Once they start to raise pay in response to competitive forces, they typically lobby to push others to follow suit, to prevent other companies from undercutting them.

As per data compiled from Xpheno and TeamLease, delivery staff in cities like Mumbai and Pune get paid about Rs 15,000 a month, almost 60% higher than the minimum wage of Rs 9,498 in Maharashtra.

Experts have projected retail rivals, like Target and Walmart, which now pay minimum wage rates of $11, to increase wages faster than planned.

"I want to give credit where credit is due", Sanders said Tuesday. This change will Benefit the 37,000 current and seasonal workers, according to data from the United States company.

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