Amazon cutting more employees in the next few weeks bringing total layoffs to over 18,000, more than any other tech company. Its CEO was paid $221 million in 2021. Amazon recently made record revenue & profit. Amazon is worth $868 billion. Founder Bezos net worth is $107 billion.
Amazon pays its workers so little that they often qualify for food stamps. It is among the top 3 employers (along with Walmart and McDonald's) whose employees are on public assistance in virtually every state
Context:
Amazon full-time warehouse employees make $31,200 a year. Jeff Bezos makes that every 12 seconds.
Cost to give warehouse workers 2 weeks paid sick leave + pay bumps so they don't qualify for food stamps = 0.9% of Bezos' fortune
1. Amazon workers in Staten Island just won a vote to unionize. During the union drive, the company held 20 mandatory anti-union meetings per day and had pro-union workers arrested. nytimes.com/2022/03/24/bus…
2. Amazon paid a 6% tax rate last year, which is up from 0% a few years prior.
So one of the richest companies in the world pays a lower tax rate than their warehouse workers making $31k a year.
Compared to white people:
*Black-owned homes are devalued by 23%
*Black-owned homes' property taxes are 13% higher
*Bank fees are 2x higher for Black people
*Black people w/ no criminal record earn $10k less than white people w/ a criminal record
That's just the beginning ...
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*Black college grads have 50% less wealth than white high school dropouts
*The 10 counties most audited by the IRS are 79% people of color
*The Black-white homeowner gap is bigger now than it was in the year 1900
*In the pandemic, Black-owned businesses closed at twice the rate
*All Black Americans combined have half the wealth of the nation's richest 400 people
*The average inheritance for white families is 3x that of Black families
*Relatedly, Black families have $166,000 less wealth than white families, a bigger gap than before Civil Rights