851–860 of 1001 posts
This is: - 25% PR - 25% free advertising for their openings (i.e., Amazon pays well) - 25% necessity (we're at full-employment) - and 25% ROI (they've figured less turnover and better quality employees are worth the investment) The question is: how will this effect other companies in the markets where Amazon employs a measurable number of people.
Jeff Bezos in the announcement. “We’re excited about this change and encourage our competitors and other large employers to join us" Is this an attempt to pressure its competition with less money in the bank to do the same, loby for a higher minimum wage and drive them out of business? Maybe it's a reaction to the union organizing taking place a whole foods and they think this will be cheaper in the long run. I don't…
"Bezos wouldn't do this unless he saw a benefit for the business or his hand was being forced somehow." I don't like this type of knee-jerk suspicion towards people running corporations. Don't forget that they have conscience too, and can make decisions for the better or for the worse. In fact, by not giving credit where credit is due, you disincentivize them from trying to do good things. Yes, business people need t…
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For what it's worth, someone on reddit says $12 https://www.reddit.com/r/news/comments/9kpeal/amazon_raises_...
Quick back-of-the-envelope math: Let's assume this raise will affect 250k workers this coming holiday season, bumping their pay from $12 to $15 (+$3). Over 12 weeks at 40h/week, this represents an additional $360M in labor cost. Using AMZN's 2017 revenue of 177.9B, this equates to 17.7 revenue-hours.
Amazon acquired Kiva systems in 2012, now has over 15000 robots in its warehouses. these robot don’t need lighting or air conditioning, no unions , no overtime. Higher salary means quicker ROI. Smart Move. Amazon Rising minimum wages is a “amazing” choice. it’s competitors who use more employees in their store will go out of business soon. Also will be impacted are fast food restaurants chains and coffee and beverage…
That's not entirely correct. They need air conditioning because the bins they carry around need to be climate controlled. And they need humans to pick things up from the floors when they fall out of the bins and sometimes drag the Kivas away manually when they malfunction.
Automation is at the point now where it can put a lot of people out of work but it also creates its own class of expensive problems that still need human intervention.
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Midterms will be here in a month. "Bernicrats" (Left progressive Democrats) have been doing extremely well in recent elections and polling. If you're not afraid as a Republican or a corporation, you haven't been paying attention. https://www.bloomberg.com/news/articles/2018-09-18/internal-... (Internal RNC Poll: Complacent Trump Voters May Cost GOP Control of Congress) http://time.com/5411948/national-voter-registrat…
You're not wrong, but you do realize that the outcome of a midterm election won't affect the president's authority to sign or veto bills?
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Where did you see that? I doubt hourly warehouse workers are getting RSUs to begin with, that tends to be for salaried positions only.
from https://blog.aboutamazon.com/working-at-amazon/amazon-raises... : > Is anything changing with Amazon’s RSU program? > Yes, we’ve heard from our hourly fulfillment and customer service employees that they prefer the predictability and immediacy of cash to RSUs. We will be phasing out the RSU grant program for stock which would vest in 2020 and 2021 for this group of employees, replacing it with a direct stock pur…
Most of the questions at the all-hands meeting held at my FC today were about stocks, so if they wanted to distract anyone, it didn't work.
It seems like a definite good deal for part timers and full timers who don't stay two years. For everyone else, I mean, working at a fulfillment center shouldn't be part of a long term AMZN investment strategy. Full timers already get their 401K, and the extra income seems more useful than a couple of shares years down the road.
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No democrat is getting any substantive bill through Congress and signed into law until 2020. I don't think they're afraid of Bernie.
Midterms will be here in a month. "Bernicrats" (Left progressive Democrats) have been doing extremely well in recent elections and polling. If you're not afraid as a Republican or a corporation, you haven't been paying attention. https://www.bloomberg.com/news/articles/2018-09-18/internal-... (Internal RNC Poll: Complacent Trump Voters May Cost GOP Control of Congress) http://time.com/5411948/national-voter-registrat…
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America has always been a nation of middle class people, even back in colonial times. The exception was the southern slave economy, which didn't have much of a middle class.
it's a pretty big exception, even if the other part is true. (And thanks for acknowledging the exception up front!) At the high points, 20% of the total U.S. population were enslaved. At that point, it's not just an exception, it's a problem with the entire premise, even if the entire rest of the population was 'middle class', which they weren't. What allowed the U.S. economy to function with an unusually large porti…
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He is going to lay off all of the employees through automation. You can have $150 an hour for warehouse employees as a minimum wage if there is only one of them.
Why would he bother raising wages then? No need for him to raise wages to do that. He isn't doing it for the sake of it. There is some other incentive involved. Automation happens either way and they have been gradually doing it for years without raising wages significantly.
Summary: the raise in Amazon's wages isn't just something that happened. It's part of a lobbying push for a higher legal minimum wage. Amazon's outsized profits-per-employee, compared to other retailers, mean that raising the minimum wage will hammer competitors.
This was a tactical move, i suspect. Restless employees at Wal-Mart type stores can generally get on with another nickel on their paycheck and an angry-dome presentation on how unions will destroy the world. Not so here. When your employees are filing for food stamps and urinating in plastic bottles, things are only a few war-boys away from Mad Max. No amount of safety meeting shilling is going to convince these peop…
Great.