They Said It!
More Proof That Amazon’s Minimum Wage Increase Was A Sham
Date: October 26, 2018
Amazon Admits Total Compensation For Hourly Workers Will Actually Decrease By Ramping Up Robot Replacements
“Early this month, Amazon announced it was raising the minimum wage for its warehouse and customer service workers to $15 an hour. The move, which Amazon said could affect more than 250,000 Amazon employees and more than 100,000 seasonal workers, came as the company started to look to attract workers for its holiday peak. As part of the wage increase, Amazon ended the bonus and stock grants it had been giving workers, which analysts estimated would offset some of the costs, as would increased efficiencies using robotics. Mr. Olsavsky declined to provide details of the costs associated with the new wage.” (The New York Times, “Amazon Squeezes Out More Profit as Sales Growth Slows,” Karen Weise, 10.25.2018)
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The Free & Fair Markets Initiative (FFMI) is a non-profit coalition of businesses, consumer advocacy groups, workers and community activists committed to scrutinizing and highlighting emerging market trends that are stifling competition and innovation, influencing federal and local government spending, putting consumer data in harm’s way and limiting consumer choice. For a list of members, please visit https://freeandfairmarketsinitiative.org/about-us/members/. For more information on the Free & Fair Markets Initiative, please visit https://freeandfairmarketsinitiative.org.
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