World's top billionaire urges rivals to up wages

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World's top billionaire urges rivals to up wages

"It's a kind of competition that will benefit everyone", he said. "Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures", he writes in the final section of his letter with the heading "Failure needs to scale too". We don't compete with our sellers.

Amazon also offers the Career Choice program that pays up to 95 percent of education tuition and fees for workers.

The challenge comes after Amazon disclosed Bezos's total 2018 compenstation was $1,681,840, 58 times the median compensation of employees other than himself of $28,836.

Bezos said the company has raised its minimum wage to $15-an-hour which has benefited more than 250,000 Amazon employees, as well as over 100,000 seasonal employees. Do it! Better yet, go to US$16 and throw the gauntlet back at us. According to e-Marketer, Amazon captured roughly 66.6% of the smart speaker market in the USA, outpacing rivals like Google (GOOGL) and Apple (AAPL).

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 USA workers to $11 an hour from $9 an hour. CEO Doug McMillon has said Walmart's average US hourly wage is $17.50 including bonuses based on store performance, and excluding healthcare benefits.

The online retailer raised its minimum wage to $15 per hour for USA employees from November, giving in to critics of poor pay and working conditions at the company.

Meanwhile, Walmart is readying to make money from omnichannel advertising to catch up with Amazon's success in that front.

"Ultimately, the acquisition of Polymorph technology will enable both existing and new advertisers to control their ad spending with us and reach their desired audiences more effectively", said Stefanie Jay, VP of Walmart Media Group.

According to marketers, Amazon has notched up 14 percent of digital ad spend share and is at a close third behind Google's 21 percent and Facebook's 19 percent.

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