News

Long-time employees lose out with Amazon wage increase

Written by The Associated Press | Oct 7, 2018 9:18 AM
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AP Photo/Paul Sakuma, File

(Undated) -- Amazon's announcement that it would raise its hourly minimum wage to $15 has been seen as a win for workers. But some longtime employees say they are losing out.

Those who already made $15 will get an extra dollar an hour when the change is made next month, but they will also lose two benefits they relied on: monthly bonuses that could top hundreds of dollars and a chance to own Amazon's sky-rocketing stock, currently worth nearly $2,000 a share. 

 According to Amazon, the wage increase will benefit more than 350,000 workers, including full-time, part-time, temporary and seasonal positions, as well as those at its grocery chain Whole Foods.

Economists said the move could put pressure on other large employers to raise wages. 

 

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