It turns out that many Amazon employees will actually lose money due to the raising of the minimum wage announced by Jeff Bezos.

Bloomberg:

Amazon.com Inc. is eliminating monthly bonuses and stock awards for warehouse workers and other hourly employees after the company pledged this week to raise pay to at least $15 an hour.

Warehouse workers for the e-commerce giant in the U.S. were eligible in the past for monthly bonuses that could total hundreds of dollars per month as well as stock awards, said two people familiar with Amazon’s pay policies. The company informed those employees Wednesday that it’s eliminating both of those compensation categories to help pay for the raises, the people said.

People responded to a Sanders’ tweet praising the minimum wage increase exposing him.

 

As I wrote two days ago Bernie Sanders was getting played by Jeff Bezos in a variety of ways.

Here is what I wrote:

You got that right Amazon is going to help Sanders on his push to get the minimum wage raised to $15 an hour. By doing this Amazon will force other big companies to pay the $15 dollar an hour wage and crush smaller businesses by putting them into near bankruptcy.

Bezos is taking a calculated risk with this move. He figures that he will take a profit hit now so that he can continue to corner more of the market and continue to make Amazon stronger. Luckily for him, the progressives are happy to help him by destroying his competition through regulation.

Now, I did not realize how strong this would be for Bezos in the short term as well. Not only will Bezos be able to control the profit damage but he will also have an easier time finding workers off the streets because of the high wages.

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