Bernie Sanders reacts to Amazon slashing stock, incentive bonuses for hourly workers

David Foster  Yahoo FinanceMore

"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead", said Jeff Bezos, Amazon's chief executive, in a statement.

California, for example, reached a deal on legislation to raise the state minimum wage across all businesses to $15 per hour by 2023, a move that could cost the state hundreds of thousands of jobs, according to a report.

On Tuesday, Amazon announced plans to raise the company's minimum wage in the United States to $US15 per hour.

Amazon announced on Tuesday (October 2) that they will be raising the minimum wage for their USA full-time, part-time, seasonal and temporary employees to $15 starting on November 1. The employees, all of whom work in different warehouses around the country, said the $15 minimum wage was great for new workers, but the math didn't work out for those who have worked at Amazon's warehouses for a few years. Workers in different parts of the world went on strike during the company's Prime Day promotion over the summer. Sen.

Amazon confirmed warehouse workers would no longer get those stock options but would allow employees to buy shares at a discount.

On Tuesday, Amazon announced plans to raise minimum wage to $US15 per hour, following Costco raising its minimum wage to $US14 earlier this year.

Nicondra: Watching the Caribbean For Tropical Development
Despite low surface pressure, upper-level winds were not favorable for tropical cyclone formation as of Thursday afternoon. Invest 91 L has been given an 80% chance of development within the next 2 days, and a 90% chance within the next 5 days.

Tottenham Hotspur vs. Cardiff City - Football Match Report
I think we can play better and we need to play better if we want to be a contender for the top four. Manager Pochettino said: "We can not guess (how long) because it was not a good injury".

Hat Melania Trump Wore In Kenya Sparks International Storm
Melania was seen off by her host First Lady Margaret Kenyatta. And the FLOTUS has riled people with her choice of clothing. She will visit Egypt as her last stop.

In the USA, the minimum wage at federal level is 7.25 dollars per hour, although local legislation in some states sets a higher level, for example in California where it is 10.50$ per hour, or in Florida 8.25$ per hour. Bernie Sanders' next minimum wage target.

Low-wage workers typically receive higher pay from an expanding economy only after higher-income people have benefited, economists note.

After Amazon announced its pay hike, Sanders praised the company and its founder.

"Our commitment to the communities we serve includes providing opportunities for restaurant employees to succeed at McDonald's and beyond with world-class training and education programs to help them build the skills needed for today's workforce", the company said in a statement. Once they start to raise pay in response to competitive forces, they typically lobby to push others to follow suit, to prevent other companies from undercutting them.

Amazon will raise its pay to $15 an hour for all U.S. employees effective November 1. The pay increases would apply to about 100,000 Amazon seasonal workers. This change will Benefit the 37,000 current and seasonal workers, according to data from the USA company.

"We've already seen just how much pressure there is — I think this is only going to increase it", said Judy Conti, director of government affairs at the National Employment Law Project.



Latest news

Tom Brady can break yet another National Football League record Thursday night
After a tough couple of weeks, the New England Patriots are starting to get back into the swing of things. Finally, if you need a cheat sheet to help you remember the list, you can just use this.

Zhang downs Kerber to set up Osaka clash in Beijing
"I was not feeling the best at the beginning of the match, but then I was playing better and better", the 30-year-old said. She will face either home hope Zhang Shuai or three-time Grand Slam champion Angelique Kerber of Germany in the last eight.

Manchester United go two down against Newcastle inside 10 minutes
United have not responded to questions about the report in Saturday's Mirror . "That is the reason why it was a phenomenal season".

Interpol demands China ‘clarification’ on missing police chief
As president, Mr Meng leads the Executive Committee, which provides the overall guidance and direction to Interpol. Since Xi Jinping came to power in 2012, well over a million party officials have been disciplined in some way.

Spanish soprano who sang Barcelona Olympic song with Freddie Mercury dies
Spain's royal family called her "the great lady of the opera, a legend of universal culture, the best among the best". Spanish Prime Minister Pedro Sanchez said a "a great ambassador of our country has died".

Cristiano Ronaldo trains with Juventus after rape allegations
Karim Benzema's goal-scoring woes and defensive issues are also identified as other factors that will affect Real Madrid's campaign this season in the UCL.

Ferrari have made progress despite results, says Vettel
His Mercedes teammate Valtteri Bottas confirmed he would support Hamilton again should it be required. "I can't fight anymore for the championship".

Nobel Peace Prize honors fight against sexual violence in war
The Nobel prize for physics was awarded to Donna Strickland, only the third woman victor of the award and the first in 55 years. The committee noted that " Denis Mukwege is the helper who has devoted his life to defending these victims".

Nintendo patents a case that transforms your phone into a Game Boy
Games may be included with the app, or more likely will be purchased separately as apps (or game bundles) themselves. The shell has a button layout identical to the classic Game Boy.

US Senate poised to confirm Supreme Court nominee Kavanaugh
Murkowski had already announced her intention to vote "no". "We saw a man filled with anger and aggression", Feinstein said. Kirsten Gillibrand, one of the Democrats who take to the Senate floor early Saturday to rail against Kavanaugh.

Twitter Reacts To Jason Van Dyke’s Guilty Verdict Over Laquan McDonald Killing
Jurors were told Thursday they had the option of convicting Van Dyke of second-degree murder, which is probationable. Van Dyke fired 16 shots at McDonald, with a grand jury adding one count of aggravated battery for each bullet fired.

County to Provide 2 Flu Clinics in SCV
As a result, people should do all they can to help prevent the flu - or at the very least shorten its duration. For adult patients without insurance, the regular flu shot costs $20 and the high dose for seniors costs $40.

Banksy painting 'self-destructs' moments after being sold
The gallery version featured spray paint and acrylic on canvas, mounted on a board. "We are in discussion about next steps". Alex Branczik, Sotheby's senior director and head of contemporary art in Europe said: 'It appears we just got Banksy-ed'.

Senate paves the way for Kavanaugh confirmation to the Supreme Court
Republican senator Susan Collins , who voted to advance Mr Kavanaugh, said she will announce her decision on confirmation later. Majority Leader Mitch McConnell of Kentucky sat directly in front of Collins and pivoted his seat around to face her.

What Consumers Pay For Petrol, Diesel After Price Cuts
The total price cut in these states is now Rs 5 per litre. "Thus petrol & diesel wd be Rs. 5 cheaper in the State of Gujarat". The price of petrol in Delhi on Friday (Oct 5) was Rs 81.50 per litre while in Mumbai it was Rs 86.97.

Other news