Amazon SVP Says Raising Minimum Wage Is About the Future

Amazon is increasing its minimum wage to $15 in the US and £9.50 in the UK, effective November 1st. This decision is not a response to political pressure but a strategic move to lead in employee compensation. The company is excited about the potential positive impact on its workforce and customers, despite potential effects on profit margins. Amazon also plans to lobby for a higher federal minimum wage in the US, encouraging other large employers to follow suit. Future wage reviews will continue annually to ensure competitive compensation.

What was the new minimum wage announced by Amazon for the US starting November 1st?

• $10

• $12

• $15

• $20

How does Amazon plan to maintain its competitive edge despite the wage increase?

• By reducing employee benefits

• By increasing product prices

• By maintaining great prices and selection

• By cutting down on customer service

What is Amazon's stance on the current federal minimum wage in the US?

• It should be abolished

• It should be decreased

• It is too low

• It is adequate

Which other companies were mentioned in comparison to Amazon's wage increase?

• Microsoft and Facebook

• Target and Walmart

• Tesla and SpaceX

• Apple and Google

How often does Amazon plan to review its wage and compensation structure?

• Every quarter

• Every month

• Every two years

• Every year