Amazon.com makes moves to keep and attract workers

Article Excerpt

Amazon is now making some aggressive moves to ensure that it can successfully compete in the tight market for labour. We think this will pay off for the company, and its shareholders. AMAZON.COM INC., $115.07, is a buy. The company (Nasdaq symbol AMZN; TSINetwork Rating: Average) (www.amazon.com; Shares o/s: 10.2 billion; Market cap: $1.2 trillion; No divds.) is now raising the average starting pay of its warehouse and transportation workers to more than $19 per hour from $18. The wage hike is aimed at helping the company attract and retain workers in a tightening U.S. labour market as the peak season for gifting gets underway. Amazon said the pay hikes would cost the company nearly $1 billion over the next year. Meantime, the company is also implementing a new benefit that lets employees collect their pay at any point during the month. Anytime Pay provides employees access to up to 70% of their eligible earned pay—whenever they choose and without fees. Previously, most Amazon employees got…