Amazon announced a $1 billion investment aimed at increasing wages and reducing healthcare plan costs for its U.S.-based fulfillment and transportation workers.

Average pay will rise to more than $23 per hour, with long-tenured employees receiving increases between $1.10 and $1.90 per hour.

The big picture: On average, full-time employees will see a pay boost of about $1,600 annually. • Amazon is lowering the cost of its basic health care plan to $5 per week, with co-pays also reduced to $5 starting next year. • Weekly contributions for the entry-level health plan will drop by 34%, while co-pays for primary care, mental health, and most non-specialist visits will decrease by 87%.

Zoom out: Amazon employs approximately 1.5 million workers worldwide, making these changes significant i

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