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Amazon Bumps Payout For US Warehouse, Delivery Workers

Amazon.com, Inc (NASDAQ:AMZN) boosted pay for its U.S. front-line employees, effective October. The hike called for a nearly $1 billion investment…
byAnusuya Lahiri
September 29, 2022
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  • Amazon.com, Inc (NASDAQ:AMZN) boosted pay for its U.S. front-line employees, effective October.
  • The hike called for a nearly $1 billion investment over the next year and a new benefit, Anytime Pay enabling employees to collect their Pay at any point during the month.
  • Average starting pay for front-line employees in customer fulfillment and transportation (or warehouse and delivery workers) increased from $18 per hour to more than $19 per hour, with employees earning between $16 and $26 per hour depending on their position and location in the U.S. 
  • Anytime Pay provides Amazon employees access to up to 70% of their eligible earned Pay whenever they choose and without fees.
  • Previously, most Amazon employees received their regular pay once or twice monthly.
  • Amazon also announced additional investments in career development programs, building on its commitment to provide free college tuition to hourly employees. This brings the company’s total investment in benefits offered to its team to nearly $10 billion this year alone.
  • Earlier, Amazon shared plans to invest $450 million to fund wage increases and other benefits for delivery drivers employed by members of its Delivery Service Partners network. 
  • Amazon also rolled out similar benefits for its warehouse workers as it expanded the logistics network as unionization gained momentum.
  • Amazon strategized to improve warehouse safety and pay concerns after facing flak for the same.
  • Earlier reports indicated Amazon faced a significant crisis of workers in its warehouses as it ran out of people to hire. 
  • Price Action: AMZN shares closed higher by 3.15% at $118.01 on Wednesday.
  • Photo Via Company
 
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By Jelena Martinovic
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California cannabis company Unrivaled Brands has completed its strategic reorganisation and reversed stock split. Under the reorganisation deal, Blum Holdings is now Unrivaled Brands' parent company, and each share of its common stock has automatically converted into equivalent shares of Blüm's common stock. As part of the restructuring, Blüm's common stock will trade on the OTCQB tier of the market under the "BLMH" ticker symbol. Directors and officers of Unrivaled Brands prior to the reorganisation will serve as the directors and officers of Blüm. This milestone is part of Unrivaled Brands' growth and development strategy. In Q3 2021, the company saw an 11.4% YoY drop in revenue to $8.6m, but managed to limit its net loss to $3.4m, compared to a $119.9m net loss in the previous year.

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