World's top billionaire urges rivals to up wages

Share
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.

Share

Advertisement

Related Posts

Has Pep Guardiola lost faith in Leroy Sane?
After the penalty, Sergio reacted incredibly well and was mentally strong and the team was stable". But we have six games left to finish the Premier League, and we know what we are playing for.

Highlights from The Mandalorian at Star Wars Celebration
Lego made a decision to add one more for good measure, throwing in Leia's adoptive father Bail Organa as a bonus. At 1,700-plus pieces and two feet long, putting your other hand underneath might still be a good idea...

Sudan Frets Over Whether Sudan Coup Could Derail Fragile Peace Deal
Following the military takeover in Sudan, concerns are being heard that the fragile peace might be in peril. I shall never tire of repeating this: peace is possible! "Tears were flowing from my eyes", she said.

Toronto Maple Leafs looking to go up 2-0 on Boston Bruins
Midway through the first period, the two got tangled up when DeBrusk tried to poke the puck away from Kadri along the boards. How many games will he get suspended? Kadri's hit did not earn him a match penalty, but it may well earn him a suspension.

Ivana Trump shares what daughter Ivanka thinks about Melania Trump
Trump insisted that "it would've had nothing to do with nepotism" and Ivanka would have been "incredible" in the role. Stephanie Grisham, a spokeswoman for Ivanka , said both have "always shared a close relationship and still do today".

Boy, 5, thrown from shopping mall in Minneapolis - man arrested
A witness Friday at the mall told WCCO that the child's mother was screaming that someone had thrown her child from the balcony. Aranda also was accused of walking into a mall store and sweeping his hand across a display table, breaking glasses.

Doc Rivers gets technical foul defending Patrick Beverley
The two were going after each other all game but the stage was set by a hard fourth-quarter foul from Beverly on a Durant drive. Cousins, who played his first game of the season January 18 at the Clippers, had nine rebounds and four assists.

BTS’s new album "Map of the Soul: Persona" arrives on Friday
The band are set to perform on this week's episode of Saturday Night Live , where they'll accompany host Emma Stone . The music video of K Pop group BTS and Halsey's single 'Boy With Luv' has garnered over 78 million views.

Watch Star Wars: Jedi Fallen Order's Performance Capture; Xbox Partnership Possibly Hinted
In an interview with IGN at the Star Wars Celebration in Chicago , Zampella directly stated "it's a single-player story game". One would expect that the game will see the light of day around the time that The Rise of Skywalker hits theaters.

Three dead after planes collide near Mt Everest
Three people have been killed and four injured after a plane crashed during takeoff near Mount Everest, according to reports . Hundreds of foreign climbers head to Mount Everest in April during the commercial expedition season, which lasts until May.

© 2015 ExpressNewsline. All Rights reserved.