Amazon removes monthly bonuses and free shares after raising the minimum wage

Amazon.com Inc. will increase its minimum wage to $ 15 by the hour, but this will be done at the expense of monthly bonuses and stock rewards for paid workers at the time, so that the company will be able to do so. company can contribute to the payment of these increases.

In a blog on Tuesday, Amazon confirmed the phasing out of its stock purchase program and incentive bonus. Currently, warehouse employees and other paid employees at the hour receive two Amazon shares when they are recruited and receive an option to buy shares each year, according to The Verge. A single Amazon stock is currently worth about US $ 1,952.

In an e-mailed statement, an Amazon spokesperson said the stock-attribution program, which will be acquired in 2020 and 2021, would be replaced by a plan of action. stock purchase direct by the end of 2019.

Bloomberg News reported Wednesday that workers who were already getting at least $ 15 at the hour would benefit from an increase of $ 1 at the hour, which would frustrate some longtime employees who might not benefit as much than the lowest paid workers.

Lily: Amazon's $ 15 minimum wage could encourage other retailers to raise their wages.

A spokesperson for Amazon said his workers will see an overall increase in compensation. "Our customer service and customer service staff told us daily that they preferred the predictability and immediacy of cash to [restrictive stock units], "Said Amazon in a statement." The net effect of this change and the new higher cash pay is a significantly more comprehensive compensation for employees, with no requirement for acquisition, and with more predictability. " . "

But some workers have challenged that. Several Amazon warehouse workers told The Verge that they feared their salary would go down after missing thousands of dollars in incentive bonuses, which could reach 8% per month and 16% during the peak holiday season. In the UK, where hourly workers also had an increase this week, Amazon warehouse workers told The Guardian that stock and incentive bonus cuts could offset about half of the time. the amount of their increases. stealth tax on his own salary increase. "