World's top billionaire urges rivals to up wages

<p>Amazon <span class="caps">CEO</span> Jeff Bezos has challenged his rivals to increase minimum wages.</p> <p>In his annual letter to shareholders, the world’s top billionaire called on other retailers to match his company’s wages or even do better.</p> <p>‘’ 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’‘, he said.</p> <p>The online retailer hiked its minimum wage in the U.S last November and shippers competed to hire workers for the holiday shopping season amid unemployment at a nearly 20 year low.</p> <p>In his letter, Bezos said the wage hike has benefited over 250,000 Amazon staff and over 100,000 seasonal workers.</p> <p>By contrast, Bezos’ total compensation last year was $1.7million. That’s 58 times the median pay at Amazon.</p> <p><strong>Reuters</strong></p>

Match our employee benefits and our $15 minimum wage. Do it! Better yet, go to $16.