As the economy begins to restart, the e-commerce giant is halting its hazard pay.
As retail begins to make a seeming ascent toward normalcy, several companies have announced that they're curtailing some of the measures they instituted during the pandemic to keep work environments safe and reward employees.Amazon.com announced that it's stopping the $2 hourly pay raise that it added for workers who came in to fill orders under pandemic conditions.
Amazon has paid out $800 million in extra benefits since the start of the pandemic. Its starting pay of $15 an hour is higher than that of competing companies such as Target, whose minimum hourly wage is $13.Starbucks announced last week that it would scale back worker hours as stores reopen under new conditions with reduced hours. Target has said previously that it would extend its hazard pay of $2 extra in hourly wages through July 4.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and Starbucks and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon.
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