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Amazon Isn't Coming to New York. Here's What That Could Mean for the City's Colleges

After months of backlash from New York residents and struggles to close deals with city officials, Amazon is no longer moving half of its second headquarters to the city, according to Reuters. The company had big plans to add 25,000 jobs to it’s proposed New York location, but now says it will instead spread those jobs to different locations across the US and Canada. Plans for it’s Northern Virginia expansion are still underway. After nearly a year-long search for its second headquarters, Amazon announced in November that it was planting its feet in Crystal City, VA and Long Island City, NY. Real estate companies and officials in the cities geared up for Amazon’s arrival by purchasing property and attempting to make tax deals, but the education sector may have gotten left behind now that the New York expansion is off the table. Universities near Long Island City and Crystal City leveraged students and recent graduates to create pipeline programs, initiatives, and expansion deals...

Arriana McLymore

Feb 14, 2019

Amazon Cuts Stock Benefits and Bonuses to Fund Higher Minimum Wage

Amazon is getting rid of monthly bonuses and stock rewards for warehouse workers to help fund its new $15 minimum wage for its employees, Bloomberg reports. Amazon announced last week that it is raising its minimum wage for all of its hourly employees. By discontinuing its Restricted Stock Units Program, Amazon said it is able to offer employees “the predictability and immediacy of cash.” The company said that phasing out of its RSU program will result in more total compensation for its employees. Amazon employees could previously make hundreds of extra dollars with monthly bonuses; however, the bonuses were not guaranteed. The company is also lobbying for an increase in the $7.25  federal minimum wage. “We intend to advocate for a minimum wage increase that will have a profound impact on the lives of tens of millions of people and families across this country,” said Jay Carney, Senior Vice President of Amazon Global Corporate Affairs. Amazon employees will continue to...

Arriana McLymore

Oct 9, 2018