Ama­zon says its fe­male work­ers paid equally as men

The Pak Banker - - COMPANIES/BOSS -

SAN FRAN­CISCO: Ama­ Inc, un­der pres­sure from an ac­tivist share­holder to dis­close its poli­cies on gen­der pay equal­ity, said on Wed­nes­day its fe­male em­ploy­ees earned as much as their male coun­ter­parts, ac­cord­ing to a sur­vey it re­cently con­ducted. The dis­clo­sure came as U.S. com­pa­nies face crit­i­cism on the is­sue of pay equal­ity, es­pe­cially in the male-dom­i­nated tech­nol­ogy sec­tor.

The Seat­tle-based on­line re­tailer dis­closed the re­sults of its study af­ter pres­sure from Ar­juna Cap­i­tal, the ac­tivist arm of in­vest­ment firm Bald­win Brothers Inc, which has been push­ing it to pre­pare a re­port on gen­der pay eq­uity.

Ar­juna with­drew its orig­i­nal pro­posal af­ter Ama­zon an­nounced the re­sults of its gen­der pay study on Wed­nes­day.

"We are pleased Ama­zon is step­ping up in re­sponse to in­vestor con­cerns about gen­der pay eq­uity," said Natasha Lamb, di­rec­tor of share­holder en­gage­ment at Ar­juna, call­ing on Ama­zon to fur­ther re­port on its poli­cies and goals to close the gen­der pay gap.

Ama­zon, which es­ti­mates that women made up 39 per­cent of its global work­force and 24 per­cent of man­agers as of July, said a re­view of com­pen­sa­tion in­clud­ing both base pay and stock com­pen­sa­tion found that women earned 99.9 cents for ev­ery dol­lar that men earned in the same jobs. The sur­vey, which was con­ducted by an ex­ter­nal la­bor econ­o­mist, cov­ered Ama­zon work­ers at var­i­ous lev­els of the com­pany's or­ga­ni­za­tion in the United States. "There will nat­u­rally be slight fluc­tu­a­tions from year to year, but at Ama­zon we are com­mit­ted to keep­ing com­pen­sa­tion fair and eq­ui­table," the com­pany said in a state­ment. The study, which was re­cently com­pleted, also found that mi­nori­ties earned 100.1 cents for ev­ery dol­lar that white em­ploy­ees earn in the same jobs. The U.S. se­cu­ri­ties reg­u­la­tor, the Se­cu­ri­ties and Ex­change Com­mis­sion, said last week that Ama­zon should al­low share­hold­ers to vote on a pro­posal on gen­der pay equal­ity put for­ward by Ar­juna, af­ter the com­pany had sought per­mis­sion to omit the pro­posal from its proxy state­ment.

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