Higher Wages & Plush Benefits: Why They Can’t Co-Exist
October 10, 2018
- Amazon hikes up wages. Employees jeer at lost stock options and bonuses: The jubilant environment following Amazon’s minimum wage increase quickly subsided after some employees became furious over their reduced benefits. Lucrative bonuses will now be less favorable under the new compensation package.
- Starbucks adds new benefits. Controversy ensues: After a harrowing 12 months of PR disasters, the java experts are honing in on the family. However, as they improve their parental leave, child care, and health leave policies, critics scoff at their neglected promises to hiring refugees and eliminating bias.
- Wage increases and benefits are not friends: Economists have been scratching their heads about the gradual creep in wages in the U.S. In a succinct and insightful piece, the NY Times explains why.
- Walgreens angers employees with a new benefits plan: Walgreens provoked the ire of its employees by proposing changes to its benefits, including cutting insurance for retirees and increasing the obstacles for part-time workers to gain PTO.
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