Current Events > amazon workers losing stocks and bonuses because of the minimum $15 wage rule

(+) Yeah! (+)

http://fortune.com/2018/10/03/amazon-warehouse-workers-minimum-wage-incentives-stock-options/

and people thought bezos was doing it because he cares.

its crazy how wealthy people fit the stereotype like mr burns.
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Shhhh

Let the poors think this was progress
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its a minimum wage job, get over it.

Don't like it? Work somewhere else.
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the ceo is building a rocket to mars but yah it was the new minimum wage
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Expected, the cost for the wage increase has to come from somewhere.
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Amazon's stock was getting too big for them anyway. Plus it's so overvalued I wouldn't be surprised if it dropped considerably in the next couple of years. Aren't they on a purchasing program or is that outside of their gross pay?

I think most people would rather have the money
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Expected.

Lol this is hilarious. Amazon used the liberal narrative of raising the minimum wage against them and made sure to stiff the workers in the long run even more by taking away their stock options
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Damn. That sucks. Glad Costco gives me stock options and bonuses and pays me more.

Conflict posted...

John_Galt posted...

Shhhh

Let the poors think this was progress

Conservatives were the one applauding this and calling Bezos a hero, dumbass. Lol

Somehow I doubt that it was just conservatives, since Bezos is a liberal, and $15 an hour is what liberals want the new minimum wage to be.
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Even Bernie Sanders was praising Amazon for this:

https://thehill.com/policy/technology/409531-progressive-lawmakers-praise-amazon-wage-hike
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Kazi1212 posted...

Even Bernie Sanders was praising Amazon for this:

https://thehill.com/policy/technology/409531-progressive-lawmakers-praise-amazon-wage-hike

What a fucking dumbass.

refmon posted...

its a minimum wage job, get over it.

Don't like it? Work somewhere else.

you say that now yet when people really follow it you'll be bitching about everything being too expensive.
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Conflict posted...

Liberals approve of a higher wage but they're fully aware of the shitty Amazon workplace conditions too.

Did liberals also think Amazon would find a way to stiff their workers in the long run even more by raising the minimum wage to $15? Im skeptical someone like Bernie would have praised Amazon for this had he realized this was the case.
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Short term gain for long term losses.

The liberal media gobbled it up like the idiots they are.
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ManBeast462 posted...

Expected, the cost for the wage increase has to come from somewhere.

No where since I doubt they are really getting it.
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Kazi1212 posted...

Did liberals also think Amazon would find a way to stiff their workers in the long run even more by raising the minimum wage to $15? Im skeptical someone like Bernie would have praised Amazon for this had he realized this was the case.

Bernie also praised Venezuela.
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GreatEvilEmpire posted...

Kazi1212 posted...

Did liberals also think Amazon would find a way to stiff their workers in the long run even more by raising the minimum wage to $15? Im skeptical someone like Bernie would have praised Amazon for this had he realized this was the case.

Bernie also praised Venezuela.

To be fair to Bernie, quite a few on the left had done the same
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there are many reasons why this pay raise pr is disingenuous.
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who cares

shockthemonkey posted...

GreatEvilEmpire posted...

Kazi1212 posted...

Did liberals also think Amazon would find a way to stiff their workers in the long run even more by raising the minimum wage to $15? Im skeptical someone like Bernie would have praised Amazon for this had he realized this was the case.

Bernie also praised Venezuela.

https://quillette.com/2018/03/10/sanders-venezuela-meme/

The main argument in the article is that Bernie doesnt ideologically endorse the Venezuelan or Cuban model of socialism, but more like Swedens or Denmarks model. This however doesnt refute Bernie Sanders did indeed praise Venezuela, in fact, he literally said the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina. That seems like praise if Venezuela to me at least, just because someone praises something doesnt mean they fully endorse it though.
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shockthemonkey posted...

Kazi1212 posted...

shockthemonkey posted...

GreatEvilEmpire posted...

Kazi1212 posted...

Did liberals also think Amazon would find a way to stiff their workers in the long run even more by raising the minimum wage to $15? Im skeptical someone like Bernie would have praised Amazon for this had he realized this was the case.

Bernie also praised Venezuela.

https://quillette.com/2018/03/10/sanders-venezuela-meme/

The main argument in the article is that Bernie doesnt ideologically endorse the Venezuelan or Cuban model of socialism, but more like Swedens or Denmarks model. This however doesnt refute Bernie Sanders did indeed praise Venezuela, in fact, he literally said the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina. That seems like praise if Venezuela to me at least, just because someone praises something doesnt mean they fully endorse it though.

You should read the entire article

Would you mind pointing out what part youre referring to? Obviously would be faster if you read it already
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shockthemonkey posted...

Kazi1212 posted...

shockthemonkey posted...

Kazi1212 posted...

shockthemonkey posted...

GreatEvilEmpire posted...

Kazi1212 posted...

Did liberals also think Amazon would find a way to stiff their workers in the long run even more by raising the minimum wage to $15? Im skeptical someone like Bernie would have praised Amazon for this had he realized this was the case.

Bernie also praised Venezuela.

https://quillette.com/2018/03/10/sanders-venezuela-meme/

The main argument in the article is that Bernie doesnt ideologically endorse the Venezuelan or Cuban model of socialism, but more like Swedens or Denmarks model. This however doesnt refute Bernie Sanders did indeed praise Venezuela, in fact, he literally said the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina. That seems like praise if Venezuela to me at least, just because someone praises something doesnt mean they fully endorse it though.

You should read the entire article

Would you mind pointing out what part youre referring to? Obviously would be faster if you read it already

Then you wont learn anything

I already know how to read though. If you tell me which part to read, then you would just be saving me time. I get the feeling theres nothing in the article that refuted the fact Bernie in fact praised Venezuela given your hesistancy to just quote the part youre referring to. But just to see if youre disingenuous or not, Ill read through it.
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lol, I worked for amazon, the RSUs and pay incentives definitely made a difference
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JustMyOpinion posted...

That article is pretty light on details and numbers. How much stock did a sub $15 an hour employee usually get? How much was their bonus? Kinda important to know beforr saying they didn't get anything out of it.

True.
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pay bonus would get you maybe 100 extra per check. the RSUs vest after 2 years and you get one per year
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Also worth noting that this raise only applies to full-time employees, and not the many contractors and other "non-employee" categories that make up Amazon's workforce.
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People STILL don't understand how much increasing minimum wage actually costs businesses?

Its not a few bucks here or there; its HUGE.

One employee, making $2 more an hour, will cost about $4000 a year. Multiply that by a number of employees. The cost is enormous. If every employee at Amazon got a $2 raise per hour, that would be $2 240 000 000 MORE to pay employees. Yes, over $2 billion just for a $2 increase.
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MaverickXeo posted...

One employee, making $2 more an hour, will cost about $4000 a year. Multiply that by a number of employees. The cost is enormous. If every employee at Amazon got a $2 raise per hour, that would be $2 240 000 000 MORE to pay employees. Yes, over $2 billion just for a $2 increase.

All I know is, if Prime goes up again, I'm fucking dropping it for good.

Could someone please explain to me why raising the minimum wage is good?

People that work at 7-11 are working at minimum wage. Now that the owner of that store has to pay all their employees more money. So how do they counter this? They raise the price of everything

So you're just back to where you were. It doesn't matter what the minimum wage is, if it goes up, then all the prices of everything go up as well
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Bad_Mojo posted...

Could someone please explain to me why raising the minimum wage is good?

People that work at 7-11 are working at minimum wage. Now that the owner of that store has to pay all their employees more money. So how do they counter this? They raise the price of everything

So you're just back to where you were. It doesn't matter what the minimum wage is, if it goes up, then all the prices of everything go up as well

something something more competition and make your own business
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Bad_Mojo posted...

People that work at 7-11 are working at minimum wage. Now that the owner of that store has to pay all their employees more money. So how do they counter this? They raise the price of everything

So you're just back to where you were. It doesn't matter what the minimum wage is, if it goes up, then all the prices of everything go up as well

This suggests that the sole factor in pricing is the labor cost of minimum wage workers and that profit is always held constant.
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Lower end Amazon workers actually got Amazon stock? One share is like two net payckecks together
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MaverickXeo posted...

People STILL don't understand how much increasing minimum wage actually costs businesses?

Its not a few bucks here or there; its HUGE.

One employee, making $2 more an hour, will cost about $4000 a year. Multiply that by a number of employees. The cost is enormous. If every employee at Amazon got a $2 raise per hour, that would be $2 240 000 000 MORE to pay employees. Yes, over $2 billion just for a $2 increase.

You know that 566,000 number you pulled for number of employees is world-wide right.
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Bad_Mojo posted...

Could someone please explain to me why raising the minimum wage is good?

People that work at 7-11 are working at minimum wage. Now that the owner of that store has to pay all their employees more money. So how do they counter this? They raise the price of everything

So you're just back to where you were. It doesn't matter what the minimum wage is, if it goes up, then all the prices of everything go up as well

It's actually more insidious than that.

If you have to pay an employee $15, that employee better damn well be worth $15.
All this ends up doing, at least in the short term, is punishing the very people who can only get minimum-wage work for some reason.

Tyranthraxus posted...

I think most people would rather have the money

They wouldn't. New hires are happy enough obviously, but this is hitting all hourly employees and a couple low end salaried too I think. So if your maxed out hourly, you got nothing and lost a couple grand in stock bonuses. Amazon reddit is full of people pissed off about it lol. Unknown5uspect posted...

Damn. That sucks. Glad Costco gives me stock options and bonuses and pays me more.

I too work at Costco my brethren. Good fortune be upon ye.
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Antifar posted...

This suggests that the sole factor in pricing is the labor cost of minimum wage workers.

But that's how it works. Every time the minimum wage goes up, the prices of everything goes up. When I was smoking cigs and I was making like $8 and hour, the prices was like 5 bucks. Now that the minimum wage is up to [I don't know what it is, lol] cigs cost [again, I don't know. Looks it up - $7 for a pack of Marlboro Reds] that's a $2 jump in price for something you buy almost every day.
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