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 are the expected impacts of the wage increase on Amazon's bottom line?

What is Amazon's stance on the federal minimum wage and how does it relate to their new wage policy?