"It's a kind of competition that will benefit everyone".
In his letter, Bezos talked about the growth of third-party sellers on Amazon, as independent sellers have grown from 3 percent to 58 percent of physical growth merchandise sales. He mentioned educational programs available to workers and paid for by Amazon as well as the Amazon Future Engineer program with which the company hopes to get more people working in STEM fields. We don't compete with our sellers. According to an article published last October by The New York Times, employee are fuming over the shrink in total compensation, as Amazon will "no longer give out new stock grants and monthly bonuses". He added, "Better yet, go to $16 and throw the gauntlet back at us".
Match our employee benefits and our $15 minimum wage.
FILE PHOTO: Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC's "Milestone Celebration Dinner" in Washington, U.S., September 13, 2018.
Walmart has enacted a number of wage hikes in the last few years, most recently in January 2018 when it boosted its minimum wage for starting United States workers to $11 an hour from $9 an hour.
Bezos reports that roughly 58% of physical merchandise sales through Amazon are attributable to third-party sellers, who brought in $160 billion previous year compared to Amazon direct sales of $117 billion.
The company set the wage floor a year ago amid criticism of working conditions in its sprawling warehouses and said it would lobby U.S. Congress for a higher federal minimum wage. CEO Doug McMillon has said Walmart's average USA hourly wage is $17.50 including bonuses based on store performance, and excluding healthcare benefits. Democrat leader Bernie Sanders even moved legislation named as "Bezos Act" to slap a tax on corporations for making their low-wage workers earn government health-care benefits and food stamps. "The good news for shareowners is that a single big winning bet can more than cover the cost of many losers", he wrote.