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Amazon got lots of fanfare for raising its minimum wage to $15 an hour.
However, Amazon is now cutting productivity bonuses that usually double during the holidays, cutting attendance bonuses, and cutting the free stock shares that they pass out.
Many workers in high cost of living areas already made hourly rates close to 15 an hour. Meaning many will gain little from the hourly pay increase and lose a lot in bonuses.
The net effect is that many of their line workers will actually get a pay cut.
I'm laughing and laughing and laughing at how Amazon rolled out this "we're doing the right thing" $15/min....and then turning around and pulling the old take back.
Classic media and public opinion manipulation.
Now we have Bernie Sanders talking about McD's paying $15/hr. Well Bern, great news for you the one near me has gone to kiosks and got rid of about half their workers. The remaining ones are probably going to get paid more, the others are laid off. No doubt they can get a job at Walmart as a checker....oh wait no, they've gone automated checkout too for the most part. Ok, no problem there is Home Depot....oh wait.....
There is a difference.....between the Waltons, who have spent much of their life lobbying the State and Fed. Government for tax breaks for themselves personally (they made up the whole "death tax" thing because it mostly applied to billionaires).....
Good for Amazon. This is the positive side of Single Jewish Women (SJW)......basically enlightened, but not perfect, businesses from the Left Coast...
Another interesting factoid. Bezos makes breakfast (cooks) for his family. He doesn't take his first meeting until 10am and won't take any important decisions in the late afternoon. He says the best thinking is earlier in the day....
A American business that already employs 350,000 - many at high wages (skilled)...and has a "eco-system" of authors and other sellers numbering in the 100's of thousands. See....American is already great, but we need those SJWs to ask folks to do the right thing.
BTW, an auto plant these days generally employs 800-3,000.
lol Aren't you tired of being wrong all the time?
Before the raise, warehouse workers received anywhere from two to three Restricted Stock Unit (RSU) awards, vesting in full after two years. Sitting at around $2,000 a share, Amazon stock is traditionally touted as a massive value-add for employees when determining base wages.
On top of that, employees also received monthly bonuses through the company’s Variable Compensation Pay (VCP) program, with the ability to earn up to 8 percent of their monthly income. According to Yahoo! Finance, “an average worker usually receives $1,800 to $3,000 a year through the VCP program.” The potential earnings for bonuses double during peak months.
The recent raise, though, spelled the end to both RSU awards and the VCP program. Yahoo! Finance spoke with an anonymous employee, who estimated that while an additional $1 an hour raise adds up to $2,080 a year in total earnings, employees “could have earned a few thousands dollars more from the incentive programs.”
The big point here is Amazon raised it wages. It was not forced to do so by law.
It may have been because of social pressure, it may have been because of a tight labor market, it might be to entice people to work at a hard job..
I'm laughing and laughing and laughing at how Amazon rolled out this "we're doing the right thing" $15/min....and then turning around and pulling the old take back.
Classic media and public opinion manipulation.
Now we have Bernie Sanders talking about McD's paying $15/hr. Well Bern, great news for you the one near me has gone to kiosks and got rid of about half their workers. The remaining ones are probably going to get paid more, the others are laid off. No doubt they can get a job at Walmart as a checker....oh wait no, they've gone automated checkout too for the most part. Ok, no problem there is Home Depot....oh wait.....
Thats just silly. Kiosks have been around for a very long time, including in countries with much higher total compensation for McDonalds workers than in America.
This gleeful "the kiosks are coming, haha" response to every minimum wage increase shows a total lack of understanding of the issue at hand.
I fail to see why people have such hatred for the working class. Could it be that they are afraid that when workers at the bottom are lifted up, they feel their own relative status in society and their own happiness decreases, because their happiness depends on having a large group to look down upon?
Should? How is that anybody but the shareholders’ business is beyond me.
Some people always have the tendency to get into other people’s business and enslave them.
Don’t like the pay? Don’t work for them.
Exactly. If they don't get enough people willing to work for the wages they pay, they'll raise them. As President Trump said to workers at one of his rallies, when the economy is booming, you have a choice of jobs.
Exactly. If they don't get enough people willing to work for the wages they pay, they'll raise them. As President Trump said to workers at one of his rallies, when the economy is booming, you have a choice of jobs.
The reality is that median hourly wages have been flat for decades now. Boom or no boom. The working class is getting crushed and only deluded people deny it.
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