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That comes just a few weeks after a union organization effort by workers at its Bessemer, Ala., fulfillment center failed to pass. (The ecommerce giant adopted a $15/hour minimum wage policy in 2018.) The increases, rolling out in Q2, will translate into $1 billion in incremental costs. Operating income in Q2 is projected to be hit with $1.5 billion of costs related to COVID-19.Meanwhile, Amazon yesterday announced pay raises for more than 500,000 employees on its fulfillment and delivery teams, who will get bumps of 50 cents to $3 per hour. Assuming that happens, Amazon expects sales to increase 24%-30% compared with the year-earlier period. Prime is the ecommerce giant’s membership program that includes free shipping on millions of products, access to Prime Video and other perks.This year’s Prime Day — Amazon’s annual shopping event — will take place in Q2, the company said. Wall Street analyst consensus estimates had pegged Amazon Q1 revenue coming in at $104.5 billion and earnings per share of $9.54.Two weeks ago, Bezos announced that Amazon Prime has more than 200 million subscribers worldwide, in his final annual letter to shareholders as CEO.
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