Amazon's $15 an hour a win? Not so, veteran workers say

Amazon's $15 an hour a win? Not so, veteran workers say

But tucked away in the announcement was the fact that Amazon will phase out its bonus and stock award programs for its hourly workers.

"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead", founder and Chief Executive said in a statement. But some longtime employees say they are losing out.

However, the new minimum wage will not include independent contractors, such Amazon Flex drivers.

Christine Owens, executive director at advocacy group National Employment Law Project, said Amazon's call for changes at the federal level was a "significant" move. Those that called an employee hotline seeking answers heard a prerecorded message: the employee resource center "does not have any additional information we can share with you at this time".

Now the USA federal minimum wage stands at $7.25 per hour.

Those who already made $15 will get an extra dollar an hour when the change is made next month, but they will also lose two benefits they relied on: monthly bonuses that could top hundreds of dollars and a chance to own Amazon's sky-rocketing stock, now worth almost $2,000 a share. Analysts said the raise would cost it $1 billion or less annually but would be offset by a recent $20 increase in the cost of its Prime memberships.

United Kingdom court blocks iPhone users' privacy case against Google
Google argued that the type of "representative action" being brought against it by Mr Lloyd is unsuitable and should not go ahead. They also said it was not possible to identify those who may have been affected and the claim had no prospect of success.

"This is Amazon waking up and smelling the coffee". The employees, all of whom work in different warehouses around the country, said the $15 minimum wage was great for new workers, but the math didn't work out for those who have worked at Amazon's warehouses for a few years.

The company's shares closed down 1.6 percent at $1,971.31 on Tuesday. But Sanders praised the Seattle-based company for taking steps to improve working conditions, saying that "I applaud Jeff Bezos today for raising the minimum wage at Amazon".

"With the Trump administration having previously taken aim at Bezos and Amazon, they need to be proactive to position themselves positively in the court of public opinion", said Tom Gimble, CEO of recruiting firm LaSalle Network.

Earlier this week, Amazon announced that it will raise its minimum hourly wage to $15. Will the company require this wage minimum for those workers, too?

Compared to other countries, in the United States the ratio of yearly income on a minimum wage salary to the median yearly income of the country is below other wealthy countries. Economists said the move could put pressure on other large employers to raise wages.

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