Amazon increases minimum wage to $15 per hour

Posted by SB

Market Watch — Amazon which last month briefly joined the elite club alongside Apple AAPL,+0.89%  claiming market capitalization of $1 trillion — will now pay its workers a minimum wage of $15 per hour.

The hourly wage increase covers Amazon’s 250,000 U.S. full-time, part-time and temporary employees and its over 100,000 seasonal U.S. workers, as of Nov. 1, the company said Tuesday.

Investors, so far, are comfortable with the move and its upfront cost to the company.
The stock churned in choppy action Tuesday, holding on to the roughly 72% gain it’s scored so far this year, compared with a 9.4% rise by the broad-market S&P 500 indexSPX,-0.04%.. → Full Article

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