Jeff Bezos, the CEO and Founder of Amazon.com Inc. (Seattle), recently challenged rivals in the company’s annual shareholders letter to outdo Amazon’s current $15 minimum wage. The company moved to that amount at the end of last year, reports The Verge.
“Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage … Do it! Better yet, go to $16 and throw the gauntlet back at us. It’s a kind of competition that will benefit everyone,” he reportedly wrote.
This June, Target is planning to increase its hourly minimum wage to $14 from $12 and aims to move to $15 by the end of 2020, according to The Verge. Costco also recently increased its minimum wage to $15 an hour in March.