Home » Amazon hiking wages for 500,000 workers amid hiring spree for 'tens of thousands' of jobs
Amazon hiking wages for 500,000 workers amid hiring spree for 'tens of thousands' of jobs
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Amazon Inc. said it will give more than 500,000 workers a pay raise, incentivizing more people to join the e-commerce giant, which is looking to fill "tens of thousands" of new positions nationwide.
To try and fill its customer fulfillment, delivery, package sortation and specialty fulfillment teams, Amazon will raise pay by between 50 cents and $3 per hour. The move will cost the company $1 billion in incremental pay for the workers, Amazon executive Darcie Henry said in a Wednesday blog post.
The company pushed up its annual compensation review and promised to roll out raises as soon as mid-May through early June.
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However, the company's other teams will hold their annual compensation review throughout the remainder of 2021, according to Henry.
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Henry noted that the company already offers an "industry-leading starting wage of at least $15 an hour." By comparison, Jeff Bezos, Amazon's founder and outgoing chief executive who will transition to the role of executive chairman in the third quarter of 2021, pulls in a base salary of $81,840, according to a regulatory filing. However, in 2020, he sold more than $10 billion worth of Amazon shares where according to Forbes estimates, most of his fortune, which sits at about $201 billion.