SEATTLE: Amazon.com Inc. said on Saturday it is raising overtime pay for associates working in its US warehouses, as the world’s largest online retailer tries to meet the rapidly growing demand for online shopping from consumers stuck at home during the coronavirus outbreak.
Hourly workers at the warehouses will receive double pay after 40 hours for overtime, up from the 1.5-times rate, from March 15 to May 9, the announcement said.
“All hourly associates working in the US Ops network will receive double their regular hourly rate for every overtime hour worked in a workweek,” the company said in a statement. “This temporary increased overtime pay is effective March 15, 2020 and will continue through May 9. 2020.”
This is the second time the e-commerce giant announced an improvement in pay for its workers in a week. On Monday, Amazon hiked the hourly rate for associates to $17 from $15 and announced plans to hire 100,000 warehouse and delivery workers in the United States as the virus outbreak boosts online orders.
As the virus spreads across the United States, Amazon has offered unlimited unpaid time off to encourage employees to stay home if they don’t feel well. It has also staggered workers shifts and prohibited employees from sitting next to each other in the lunchroom to limit contact.
But four Democratic US senators, including Cory Booker and Bernie Sanders on Friday expressed concern in a letter to Amazon’s Chief Executive Jeff Bezos that the world’s largest online retailer has not taken enough measures to protect its warehouse staff. They specifically asked if the company would provide “time-and-a-half” hazard pay for its workers. {nL1N2BE02N]
Amazon on Thursday reported its first employee in the United States tested positive for the virus, forcing the company to temporarily shutter a warehouse in New York.
As the virus spreads across the United States, several clothing retailers and department-store chains have shut stores and cafe and restaurant operators have closed down or limited services to delivery and take-away.
Online retailers and grocery stores are trying to capture rising demand as more Americans are ordered to stay at home to reduce the spread of the outbreak.
Rival retailer Walmart Inc. said on Thursday it plans to hire 150,000 hourly associates in the US and announced $550 million in cash bonuses to reward workers.
The highly contagious coronavirus has infected more than 274,800 people across the world and led to more than 11,300 deaths globally forcing governments across the world to issue mass lockdowns of people in an attempt to slow the spread of the virus.
Amazon raises overtime pay for warehouse workers
https://arab.news/cb2w9
Amazon raises overtime pay for warehouse workers
- Hourly workers at the warehouses will receive double pay after 40 hours for overtime, up from the 1.5-times rate, from March 15 to May 9
- This is the second time the e-commerce giant announced an improvement in pay for its workers in a week
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
