Amazon Sends Letter to Bernie Sanders Promising Wage Hikes
Following concerns about not seeing an increase in total compensation due to bonuses and stock grants being taken away.
Brian Snyder / Reuters
In a new letter sent Tuesday to Sen. Bernie Sanders (I-VT), Amazon promised that “all hourly operations and customer service employees will see an increase in their total compensation as a result of this announcement,” according to a copy obtained by The Daily Beast.
This follows a memo sent from the senator last week expressing concerns that the e-commerce titan’s announced minimum-wage boost to $15/hr. would be accompanied by a loss of bonuses and stock options, resulting in a net decrease in total compensation.
“The significant increase in hourly cash wages effective November 1 more than compensates for the phase out of incentive pay and future RSU grants,” wrote Jay Carney, senior vice president for global corporate affairs at Amazon on Wednesday.
Sanders previously applauded Amazon CEO Jeff Bezos for the decision after he staged a months-long pressure campaign against the company and other large corporations.
See more of our coverage in your search results.
Got a tip? Send it to The Daily Beast here.
Register below to read this article for free or subscribe
to unlock unlimited access to The Daily Beast.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.