Amazon plans to raise wages for 500,000 workers

Amazon has announced that it will raise wages for more than 500,000 workers — but it's not planning to increase its $15 per hour minimum wage.

In light of a current effort to hire for tens of thousands of jobs across its customer, fulfillment, delivery, package sortation and fulfillment, Amazon (AMZN) moved up its annual fall pay review for those teams and plans to roll out pay increases starting in mid-May, Amazon executive Darcie Henry said in a blog post Wednesday. It will increase hourly pay by between $0.50 and $3, a total investment of more than $1 billion. "This is on top of our already industry-leading starting wage of at least $15 an hour and the more than $2.5 billion that we invested last year in additional bonuses and incentives for front-line teams," Henry, Amazon's vice president of people experience and technology, worldwide consumer, said.