Amazon's minimum-wage increase for its hourly workers comes with a trade-off: no more monthly bonuses and stock awards.
Amazon confirmed in an email to CNBC that the company is getting rid of incentive pay and stock option awards as it increases the minimum wage to $15 per hour. The company, however, stressed that the wage increase "more than compensates" for the loss in other benefits.
"The significant increase in hourly cash wages more than compensates for the phase out of incentive pay and [restrictive stock units]," Amazon's spokesperson said in an emailed statement. "We can confirm that all hourly Operations and Customer Service employees will see an increase in their total compensation as a result of this announcement. In addition, because it's no longer incentive-based, the compensation will be more immediate and predictable."
Skensis on October 3rd, 2018 at 22:36 UTC »
People who worked as an hourly employee, how much are these fringe benefits worth? Like vesting, shares given, etc?
Edit: Thanks for everyone who shed some light. Seems like this increase will be bit of a mix bag depending on how long you've been working at Amazon for. Curious if/when we'll get a better image of the overall impact and if this was a net +/-.
ConsumerGradeLove on October 3rd, 2018 at 21:57 UTC »
"wait did you think we were just gonna?"
Surprise_Buttsecks on October 3rd, 2018 at 21:44 UTC »
In other news, Amazon hourly workers had monthly incentives and stock awards.