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originally posted by: neo96
Well that's an asinine more.
$177 billion in revenue.
Nets $3 billion.
250,000 workers @ $15 an hour.
40 hour work week.
250,000 * $600 per work week = $150,000,000 million per week per worker.
$7,800,000,000 just in labor.
$7,800,000,000 -$3 billion( what Amazon nets) leaves Amazon $ 4 billion in the red just to meet labor costs.
Amazon raises prices to offset the cost.
Passing it on to the consumer.
originally posted by: darkbake
Another way to look at it is that providing quality jobs with stable hours, decent pay, benefits and the like will attract workers who will be more willing to stick with the company and put in their best effort.
I have an extremely stable job that pays considerably more than $15 an hour, in a market where what I make goes a very long way. The benefits are pretty good, very reasonable work/life balance as well. It doesn't mean you bought my loyalty however, I am still constantly on the hunt for bigger and better. Why give a company any loyalty at all, they have none toward you, even with these increases in wages.
And for all of the people that complain about Bezos and his business practices (a lot of which I do disagree with), he could if he so desired take his IP, shutter the company completely, and have an incredible amount of money to coast on for the rest of his life.
originally posted by: SocratesJohnson
Across the board policies like this is PR.
15 in some markets will be amazing, and in other, it’s still a crap amount.
If they really cared they will use one of their big brain people to come with a formula to make a wage that works in each market and not an arbatrary number