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from the so-EVERY-Amazon-employee-gets-a-raise? dept.
Amazon announces $15 minimum wage for all US employees
Amazon is raising its minimum wage to $15 an hour for all US employees. The change takes effect November 1 and applies to full-time, part-time and temporary workers. Amazon says the $15 minimum wage will benefit more than 250,000 Amazon employees, plus 100,000 seasonal workers.
"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," said Jeff Bezos, Amazon's founder and CEO. "We're excited about this change and encourage our competitors and other large employers to join us."
The change applies to Whole Foods and all other subsidiary employees.
Amazon also said its public policy team will begin lobbying for an increase in the federal minimum wage, which has been $7.25 an hour since 2009.
See also: Bernie Sanders praises Jeff Bezos on Amazon $15 minimum wage
Previously: 'Stop BEZOS' Bill to tax Amazon for Underpaying Workers
Related: Injured Amazon Worker Describes High-Tech Dystopia Inside Texas Warehouse
(Score: 5, Insightful) by Mykl on Wednesday October 03 2018, @06:46AM (4 children)
Jeff can afford to share the wealth a bit more than he has been, and this will help to show others that it is possible to pay your employees a living wage and stay in business.
I'm sick of hearing from US businesses that the "world's strongest economy" would collapse if wage-slavery were reduced just a tiny bit. Most other developed countries manage to pay their employees more than the US does, and most of those countries are doing just fine thanks.
(Score: 4, Touché) by Mykl on Wednesday October 03 2018, @06:49AM
Also, Jeff is no saint. He'll have run the models and determined that paying employees more actually works out better for him in the long run.
(Score: 1, Informative) by Anonymous Coward on Wednesday October 03 2018, @07:06AM (2 children)
Have you tried printing more money instead and giving it to the poor?
The inflation will become the tax for the rich, it doesn't matter how well they hide their money overseas.
Also no, Americans easily get paid 4 times more even as a fresh grad then a veteran programmer from the 3rd world due to currency exchange rates, while still having higher cost of living than major US cities. Mind you the figures are from 5 years ago.
(Score: 1) by khallow on Wednesday October 03 2018, @10:32PM
They just need to make sure they don't hide it as US dollars. It's not rocket science.
(Score: 1) by khallow on Wednesday October 03 2018, @10:56PM
Another note on this is a number of societies have tried this one weird trick. It doesn't always result in hyperinflation which is a high enough level of inflation that results in a complete divestment of the currency - no one holds on to it even a day longer than they have to, but you do end with runaway inflation that harms the economy and the poor. The wealthy can just put their wealth into things that are resistant to high levels of inflation like real estate or precious metals. The poor can't.