Whole Foods, an Amazon-owned enterprise, will soon be withdrawing medical benefits for several of its part-time workers, reported Business Insider. As per the company, the decision is taken to meet the requirements of the business better. Besides, it will also help develop a more efficient and equitable scheduling model, it further added.
Amazon acquired Whole Foods back in the year 2017 in a deal worth $13.7bn. The grocery chain presently employs nearly 95,000 workers. Meanwhile, Amazon, which is almost worth $910bn, follows Apple as well as Microsoft in the list of being the most valuable firm globally.
In spite of running as the 3rd most valuable firm, CEO and founder of Amazon, Jeff Bezos is the wealthiest person in the world. He holds a net worth of nearly $115bn currently. This is majorly due to huge Amazon stock volume he owns being its sole CEO since its inception in 1994.
In August, e-commerce giant joined a no. of Fortune 500 companies and tech firms in putting its signature on a letter portraying a corporation’s purpose. The purpose of a corporation isn’t to just return back shareholder value; it also serves the community and employees, read the pledge.
Whole Foods will be cutting medical benefits of part-time workers from 1 January 2020, said the company. Previously, employees were required to work up to 20 hours each week to purchase the medical benefits. Now they’ll have to work up to 30 hours at least. Under the new company policy, less than two percent of its workers will no longer be eligible for buying the healthcare plan.
As per a spokesperson for Whole Foods, the employees will still get a 20% discount across the store’s groceries. Notably, Amazon recently announced that it plans on adding over 30,000 permanent employments in its corporate, fulfillment and tech departments.