South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Amazon may have had issues with its workers, and there are also talks about the formation of a union, but it recently announced something that will make its employees happy. It was reported that the e-commerce giant will be issuing a pay hike for its 500,000 workers.
The wage hike confirmed by Amazon
As per CNN Business, Amazon is hiring again for thousands of people to fill its employment needs across its operations in the U.S. The company also announced that there would be wage increases as well.
The company will hire workers for its package sortation, delivery, and customer fulfillment. Along with this announcement for hiring, Amazon’s vice president of People eXperience and Technology, Worldwide Consumer, Darcie Henry, said that the company would move up its annual fall pay review for the said workers’ groups.
Jeff Bezos’ firm is planning to roll out the wage hike in May. However, it should be noted that there is no plan to increase the $15 per hour minimum salary. What will be offered is for those receiving less, they will get an hourly pay increase between $.50 and $3. Based on the report, Amazon is allocating a total of more than $1 billion for this additional wage.
"This is on top of our already industry-leading starting wage of at least $15 an hour and the more than $2.5 billion that we invested last year in additional bonuses and incentives for front-line teams," Henry said.
He went on to say, “These jobs come with a range of great benefits, like medical, dental, and vision coverage, parental leave, ways to save for the future, and opportunities for career advancement - all in a safe and inclusive environment that’s been ranked among the best workplaces in the world.”
Amazon’s business is picking up
CNBC reported that Amazon’s latest hiring spree is the result of the increase in demand. The company experienced a surge in orders amid the coronavirus pandemic since most people are staying home and have shifted to buying online instead of going out.
Finally, as the economy in the U.S. is starting to reopen, Amazon is one of the businesses that is expected to stay busy because online shopping is predicted to surge even more. With that said, there will be a staffing shortage; thus, the company wants to hire more people now and offer the incentive of a wage increase.
