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Amazon dumps "stealth tax" on unsuspecting warehouse workers
Amazon raised its minimum wage for US workers to $15 per hour. Then, it took a bunch of other benefits away in what's being called a "stealth tax."
- Previous to the announced increase in minimum wage to $15/hr., warehouse workers were eligible for production bonuses and stock awards. Those will be terminated when the wage is increased.
- Amazon claims it's a net gain for the workers, but others disagree.
- CEO Jeff Bezos still makes $30,000 a minute.
Net positive, or not so much?
Because, of course.
"The significant increase in hourly cash wages more than compensates for the phase out of incentive pay and [restrictive stock units]," Amazon's spokesperson said in an emailed statement to CNBC. "We can confirm that all hourly Operations and Customer Service employees will see an increase in their total compensation as a result of this announcement. In addition, because it's no longer incentive-based, the compensation will be more immediate and predictable."
The net effect will be a reduction for some, especially those who have been with the company the longest; warehouse workers had received effectively one share every year after having been with the company for a number of years. That would currently be worth nearly $2,000, and they received an additional extra share every five years as well. Also, production bonuses added up to as much as $3,000 a year for some.
Based on a 40-hour workweek, that's a net loss of $2.40/hr. for those who were able to receive both of those bonuses. In other words, for those already making over $12.50/hr. plus stock and production bonuses, it takes money away.
The news comes on the heels of praise from all over the place for the initial wage increase, including Senator Bernie Sanders, a long time critic of companies with employees forced to receive welfare and Medicaid because of such low wages.
Workers in an Amazon warehouse.
Amazon's "stealth tax" on its workers
At a time when CEO Jeff Bezos makes more every minute—nearly $30,000—than many Amazon employees do in total, it's an interesting move, and one that might test the loyalty of some long-time employees.
Reactions were swift. In the U.S., the United Food and Commercial Workers' union (UFCW) asks the question:
Was the pay raise just a PR stunt? "Tucked away in the announcement was the fact that #Amazon will phase out its bonus and stock award programs for its hourly workers." @CNN https://t.co/00OFUPpjDo
— UFCW (@UFCW) October 4, 2018
And in a Tweet from the 700,000-strong
GMB union in Great Britain, which seeks to represent more Amazon workers, Amazon's action was blasted as a "stealth tax":
When Amazon announced their wage increases yesterday they said nothing about cutting staff benefits.
This is basically a stealth tax 👇https://t.co/g2AtsiYJWk
— GMB UNION (@GMB_union) October 3, 2018
So, what say you? Is this a "Robbing Peter to pay Paul" move after a much-awaited pay raise, or is it a legitimate business decision based on dollars and sense?
Or something else entirely?
Photo: Getty Images
Are you there, Jeff Bezos? It's us, the 99%.
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Your favorite color can be linked to various personality traits, motivation, and productivity levels in your life.
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What is color psychology?<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkzNDU4MC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0Mzc2Mzk4NX0.KqHFgzhzl-dKmUvgDZsYGEDgDPVU40mA2mV1GLb1a68/img.png?width=1500&coordinates=0%2C0%2C0%2C0&height=1314" id="109d8" class="rm-shortcode" data-rm-shortcode-id="42ec0b499017c39ed1e3df32308370c2" data-rm-shortcode-name="rebelmouse-image" alt="The Logo Company color marketing infographic" />
Colors have been used strategically in branding for years.
Image by The Logo Company<p>Many people are unaware of the impact colors have on our thoughts, emotions, and behaviors in everyday life.</p><p>It's extremely likely that you have purchased something in a store or chosen one product over another due to what brands call color marketing: targeting brands, colors, and adverts based on colors that will influence you to buy. </p><p>You can see in the infographic above that companies that want to be associated with dependability (Dell, HP, IBM) use the color blue. Companies that want to be known for being exciting and fun (Fanta, Amazon, Nickelodeon) use a splash or orange. </p><p>Color psychology is being used around us every single day and not only in what brands we buy, but also in how we react to our environment. Extending color psychology into the realm of personalities is about proving that colors aren't just about what looks the best, but about what meaning we subconsciously attach to those colors, and how to use that to benefit our lives.</p>
What your favorite color says about your personality<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMjkzNTc2Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NTc2MTU1NH0.iLH4yQoMFZMDW1YJo1YRMR8jOZDfDd3PFdu_IynkBcM/img.jpg?width=980" id="6e5e9" class="rm-shortcode" data-rm-shortcode-id="5b38c0f7793933f9ab35a61a2f7bb14a" data-rm-shortcode-name="rebelmouse-image" alt="child holding crayons" />
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