Economy

Amazon raises minimum wage to $15 for U.S. employees

Amazon raises minimum wage to $15 for U.S. employees”

U.S. Democratic Senator and prominent Amazon critic Bernie Sanders praised the company's move to increase minimum hourly wages to $15 on Tuesday and said other companies should follow its lead.

Continue reading for more reactions to Amazon's new minimum wage.

Jeff Bezos, the founder of Amazon, has said the online giant has "listened to critics" as he announced a pay rise for all its minimum wage-earning British and American employees. Amazon said the new minimum wage would affect more than 250,000 workers, plus the more than 100,000 seasonal employees it will hire for the holiday rush this year.

The UK's National Living Wage and the National Minimum Wage is now £7.83 an hour.

Amazon encouraged other large USA employers to follow its lead, and said it would lobby United States lawmakers for an increase in the federal minimum wage, now at only $7.25.

"Bezos could play a profound role ― not only at Amazon but as one of the largest corporations in America ― if he said today that nobody who is employed at Amazon will receive less than a living wage", Sanders said. In April, Amazon revealed that the median annual pay for its workers around the world was just $28,466.

Amazon said it wants to convince lawmakers to boost the federal minimum wage. "The current rate of $7.25 was set almost a decade ago", said Jay Carney, senior vice president of global corporate affairs for the company.

Bezos is the world's richest man by a large margin-he is worth around $165 billion, according to the Bloomberg Billionaires Index-but past year Amazon's median pay was just $28,446, which works out to around $14 an hour.

In another change, Amazon will phase out its Restricted Stock Unit program for order fulfillment and customer service employees who are paid hourly.

Amazon founder and CEO Jeff Bezos said the company, with a market valuation of almost $1 trillion, heard the complaints about the pay structure. Meanwhile, Amazon workers skip bathroom breaks in order to meet their grueling work targets.

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

Amazon has been under increasing pressure from Congress, led by Sen.



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