Amazon Boosts Minimum Wage for US Employees Ahead of Holiday Rush
Amazon has announced it will raise its minimum hourly wage for full-time core operations employees in the US to $20, effective immediately. This increase is part of Amazon's strategy to attract and retain employees during the critical holiday shopping season.
The wage hike applies to frontline workers involved in order sorting, packing, and shipping, which are crucial roles during peak operational periods. Last year, Amazon aimed to hire 250,000 full-time, part-time, and seasonal workers to meet demand.
Amazon's current Price-to-Sales ratio stands at approximately 3.44, significantly higher than its historical median, indicating that the market is pricing in substantial future growth. However, as the company is currently unprofitable and cash-flow-negative, traditional earnings-based valuation metrics such as P/E are not applicable.