Bezos challenges retail rivals to raise minimum wage to $16/hour


by   |  VIEW 286
Bezos challenges retail rivals to raise minimum wage to $16/hour

On Thursday, the 11th of April 2019, the online retailing giant, Amazon.com Inc.’s Chief Executive, billionaire Jeff Bezos had called for a shoulder-to-shoulder challenge against his rival retailers to increase their minimum wages to $16 per hour, surpassing Amazon’s minimum hourly payout of $15 per hour.

Challenging rival retailers to take on Amazon.com Inc.’s employee benefits, in a letter to the shareholders, the billionaire entrepreneur said, “Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage.

Do it! Better yet, go to $16 and throw the gauntlet back at us”. Nevertheless, one of the majors of much-renowned FAANG group of Nasdaq Composite, the Amazon.com Inc. had raised their minimum wage to a $15 per hour on last November following sheer criticisms on poor payout and working condition at the company.

Bezos’ challenge seemed to be aimed at rhetorically deriding his retail rivals, since US unemployment had now breached a 49-year low and shippers had still been competing for hundreds of thousands of workers. In his letter, Bezos had also added that Amazon’s wage hike had benefitted more than 2,50,000 full-time employees and other 1,00,000 part-timers who worked during the last holiday seasons.