Amazon’s recent decision to raise the minimum wage it pays its workers to $15 an hour was greeted with enthusiasm and praise, with no one more pleased than independent Sen. Bernie Sanders, who tweeted: “This is what the political revolution is all about.”
A week after Amazon’s announcement, The New York Times published a piece headlined Why some Amazon workers are fuming about their raise.” It turns out a lot of Amazon employees say they are mad about the wage hike because they’re now losing other compensation and bonuses that they valued more than a higher hourly rate.
No more financial rewards for good attendance and productivity. No more granting of Amazon stock.
Just one share of Amazon per year would be roughly $2,000 for a worker. That's a massive cut for a low-wage employee.
Notably, Amazon founder and CEO Jeff Bezos is also advocating for the U.S. federal government to increase the legal minimum wage, which is music to progressives’ ears, but is also very good for Amazon.
It’s easy for a company of Amazon’s size and with Amazon’s revenue to sacrifice a tiny percentage of their profits for a higher hourly pay rate, but for a lot of employers, even a modest wage hike would represent a significant percentage of what they take in.
Will Bernie tweet his support again? It's funny that bleeding heart leftists are happy and supportive when a beast like Amazon advocates for the destruction of its competitors.