Amazon's $15 minimum wage hike for all US employees begins
Dave Clark, the Amazon senior vice president for worldwide operations, discusses Amazon’s new minimum wage rate and how it could affect the e-commerce giant.
All U.S. Amazon employees, full-time, part-time, temporary and seasonal, are getting a raise effective today Nov. 1 and will earn $15 per hour.
According to a press release from the company, the new minimum wage will benefit more than 250,000 Amazon employees as well as over 100,000 seasonal employees that will be hired at Amazon across the country this holiday season.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 202.61 | -8.87 | -4.19% |
The company added that its public policy team will also advocate for an increase in the federal minimum wage.
“We will be working to gain Congressional support for an increase in the federal minimum wage. The current rate of $7.25 was set nearly a decade ago,” said Jay Carney, senior vice president of Amazon Global Corporate Affairs. “We intend to advocate for a minimum wage increase that will have a profound impact on the lives of tens of millions of people and families across this country.”
The company said that the effect of the additional expense of the higher minimum wage will be incorporated into its earning guidance.
Amazon has more than 575,000 employees worldwide.