Amazon’s $15 Minimum Wage Could Put Pressure On Other Retailers to Raise Pay
Style Magazine Newswire | 10/5/2018, 1:14 p.m.
Amazon.com Inc.’s minimum wage increase to $15 could put pressure on other retailers, who are already competing for talent in a tight labor market. Amazon AMZN, -0.83% said Monday that it’s raising its minimum hourly wage to $15 an hour starting November, affecting 250,000 full-time, part-time and temporary workers, as well as seasonal workers. Amazon Chief Executive Jeff Bezos said the e-commerce giant “listened to [its] critics” in order to come to the decision. The announcement got Sen. Bernie Sanders’ seal of approval. Many cities, including Amazon’s home city, Seattle, and many retailers have raised wages and offered one-time bonuses to reward staff, retain them and attract new workers. However, the $15-an-hour threshold, pay that advocates deem a living wage, is one that few retailers have reached.