Amazon workers lose some benefits as wages increase
Posted by Josh Taylor / October 5, 2018
A few days ago, Amazon announced that it would boost its minimum wage to fifteen dollars per hour. The hopeful (or naive?) among us hoped that this signaled a new age of corporate responsibility. The cynical (or realistic?) among us figured that a corporation never opens a window without closing a door. And here we are: the wage increases are to be accompanied by the end of monthly bonuses and stock awards. From Amazon:
The significant increase in hourly cash wages more than compensates for the phase out of incentive pay and [restrictive stock units]. 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.
Full story at CNBC.
More business.
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