Economy

Bezos snubs eBay, Walmart in shareholders letter

Bezos snubs eBay, Walmart in shareholders letter”

Bezos issued no response to this week's jab from Musk, on Twitter or otherwise, but there was a tweet from OneWeb founder and executive chairman Greg Wyler.

Amazon challenged its retail rivals to raise their wages and improve benefits, saying the competition will help everyone. We don't compete with our sellers.

Bezos now wants Amazon's competitors to the do the same, proposing what seems like a minimum-pay war.

Retail giants and fierce competitors, Amazon and Walmart, traded barbs after Amazon boss Jeff Bezos called on retailers to increase workers' minimum hourly wages. "We don't bundle endless services to create barriers to competition".

"Do it! Better yet, go to $16 and throw the gauntlet back at us", Bezos wrote in his annual shareholder letter on Wednesday (Thursday NZ time).

Democratic presidential candidate Elizabeth Warren's proposal to slap 7 percent tax on companies who report more than $100 million in profits has Amazon as a specific target.

Amazon's largesse is not unwarranted and perhaps Bezos can be forgiven for gloating, given that the USA minimum wage is still just $7.25 an hour.

Walmart, which has raised its minimum wage twice since 2015, pays an entry wage of $11 per hour.

But Walmart makes the claim that its average workers earning is actually $17.55 an hour if related benefits are also factored in.

The fact that Amazon recruited engineers who worked on Starlink in Redmond but were reportedly thrown off the project a year ago by SpaceX CEO Elon Musk added insult to injury.

After years of Amazon taking salvos of criticism for the treatment of its workers, Bezos said it's not just the wage hike where the company has progressed.



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