Amazon Boosts Delivery Driver Wages – Capital Street FX
14 Sep 2023
Amazon claims to be increasing contract delivery drivers’ wages.
FUNDAMENTAL OVERVIEW
- For its legions of contracted last-mile delivery drivers, Amazon aims to increase wages.
- The pay raises are a component of a $440 million investment into the delivery service partner program, which was started in 2018.
- Amazon did not specify by how much it was increasing pay, but the company now projects that the typical delivery employee will make at least $20.50 per hour, plus perks.
As part of a $440 million investment this year into its third-party delivery program, Amazon said it aims to increase salaries for contracted drivers but would not specify by how much.
The wage increase was disclosed by the corporation to the 3,500 small businesses that make up its delivery service partner program during an annual, closed-door conference called Ignite Live. About 279,000 drivers who can be identified by their blue Amazon-branded vans are part of the DSP program, which was introduced in 2018. These drivers oversee delivering parcels the final few kilometers to customers’ doorsteps.
Beryl Tomay, vice president of last-mile delivery and technology at Amazon, stated in an interview that “this is going directly to DSPs, so that they can offer competitive pay to their employees, and build and retain great teams.”
Tomay stated that while DSPs are “free to set their own wages and incentives,” Amazon establishes a minimum pay level through the agreements it enters with the businesses.
In the middle of October, delivery businesses will start receiving pay increases.
AMAZON TECHNICAL ANALYSIS DAILY CHART:
Technical Overview
Amazon is currently trading within an up channel.
Amazon is positioned above all Moving Averages (SMA).
The Relative Strength Index (RSI) is in the buying zone, while the Stochastic oscillator suggests a Positive trend.
Immediate Resistance level: 144.99
Immediate support level: 141.16
HOW TO TRADE AMAZON
As of right now, Amazon is trading near a critical resistance zone; if this zone is broken, then further upside is probable. Amazon is increasing continuously and setting higher highs.