Jeff Bezos dares retail rivals to raise minimum wage in investor letter

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Jeff Bezos dares retail rivals to raise minimum wage in investor letter

"Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage", he wrote. We will work hard to make them good bets, but not all good bets will ultimately pay out.

Bezos's letter also comes as pilots from three carriers who fly for Amazon Prime Air and DHL cargo jets are planning to protest poor working conditions including low pay and severe attrition issues Thursday near the Cincinnati/Northern Kentucky International Airport, according to a press release from union group Airline Professionals Association.

Late a year ago, Amazon jumped ahead of many rivals by raising its minimum wage for USA workers to $15 an hour. Bezos did not call out competitors by name, but it prompted a response from Walmart's executive vice president of corporate affairs, Dan Bartlett, who challenged Amazon to pay more taxes.

Bezos reports that roughly 58% of physical merchandise sales through Amazon are attributable to third-party sellers, who brought in $160 billion past year compared to Amazon direct sales of $117 billion. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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.

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Target has already announced plans to raise its wage from $12 to $13. It covered 250,000 Amazon employees and 100,000 seasonal workers.

More than 16,000 employees have taken part in Amazon's Career Choice program, which can see the company pay up to 95% of tuition and fees for qualifying degree and certificate programs. The pilots staging protests are from Atlas Air, Southern Air and ABX Air. If the size of your failures isn't growing, you're not going to be inventing at a size that can actually move the needle.

The CEO said he believed the wage hike was good for business, saying the increase was "beyond competitive".

Walmart has more than 1.5 million workers in the U.S. compared with just 350,000 at Amazon, so boosting wages would have more of an impact on the bottom line.

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