Amazon's Jeff Bezos challenged other retailers to raise wages and improve benefits for their employees, saying the competition will help everyone. to match our employee benefits and our $15 minimum wage," Bezos wrote. The Minneapolis retailer has said it plans to raise starting hourly wages to $15 by the end of 2020. Fire phone floppedIn his letter Thursday, Bezos said Amazon's Fire phone was a failure, but that its Echo and Alexa smart speakers have been tremendously successful. Bezos said one "big winning bet" can cover the cost of the clunkers, and that calculus has been playing out at Amazon.

Source: CBC News April 11, 2019 16:52 UTC