Amazon Ditches Bonuses And Stocks For Workers

On Tuesday, Amazon announced that it would be raising its minimum wage to $15 for all of its hourly employees. However, it has since been discovered that the wage increase announcement also included provisos that would phase out monthly bonuses for workers, as well as severely limit their purchase of stock options.

An Amazon spokesperson assured that the increase in regular wages would make up for the lack of incentive-based pay, also insisting that, without the incentive-based bonuses, payments would become more predictable and easier for the company to make quickly.

As for stocks, employees will no longer be able to utilize Amazon’s restrictive stock program. Instead, they will be able to purchase stocks directly, without the use of a broker. Still, provisos aside, the wage increase will be going through no matter what on November 1st, and will apply to over 250,000 Amazon workers and 100,000 seasonal workers.

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5 years ago
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