12:12 PM EDT, 09/18/2024 (MT Newswires) -- Amazon.com ( AMZN ) is boosting hourly wages for warehouse workers by at least $1.50 as part of a $2.2 billion package for total pay increases.

The raises will take effect this month for more than 800,000 front-line workers, bringing the average base wage to more than $22 an hour and average total compensation to more than $29 an hour, the company said Wednesday in a blog post. This marks a gain of $3,000 a year on average for full-time employees who work a 40-hour week, Amazon ( AMZN ) said.

The company is expanding its benefits package to include Prime membership for hourly front-line US employees, starting early next year, according to the blog post.

Amazon ( AMZN ) shares fell 0.5% in recent trading Wednesday.

Price: 185.93, Change: -0.95, Percent Change: -0.51