[ad_1]
Amazon's Announcement this week that it will raise its minimum wage for workers in the United States and United Kingdom earned a wave of positive publicity, but it is already growing as a result of its success. . In blog posts about the U.S. and U.K., Amazon said it would replace its restricted stock unit [RSU] It would be a good idea to have a clear plan before the end of next year, and that the net effect of its changes would be "significantly more total compensation for employees," but did not mention monthly bonuses.
According to Amazon employees who spoke to Yahoo News, however, monthly bonuses will end on November 1. Some workers who have been with the company for more than two years are already could include variable payment compensation (VCP). Under VCP, workers who hit a number of goals could earn up to 8% of their monthly income, with an average employee earning about $ 1,800 to $ 3,000 a year in bonuses, according to Yahoo News' sources.
The pay structure will also be used in the UK, the GMB, a major trade union, told the Guardian. The GMB says that it is 1.500 in one year, amounting to "a stealth tax on its own wage increase."
Amazon is increasing its minimum hourly wage in the U.S. from $ 7.25 to $ 15 an hour. In the UK, the minimum wage will increase from £ 8.30 to £ 10.50 for workers in London and from £ 8 to £ 9.50 outside of the capital. In its announcement on October 2, Amazon said "the net effect of this change and the new higher compensation is significantly higher compensation for employees," after workers complained of poor labor conditions at its warehouses and low wages.
The Guardian reports that warehouse workers in the UK now receive one share of Amazon stock, currently worth about $ 1.953 (or £ 1.509), at the end of every year. According to the GMB, they can cash in these shares tax-free after holding onto them for two years. Therefore, the payout they would lose would be worth about 3,000 pounds. The average Amazon warehouse worker outside of London, who earns about £ 17,000 a year, the union said. Furthermore, the GMB has not yet been awarded bonuses for meeting targets during the Christmas shopping period, but Amazon told the Guardian that no such bonus program exists.
TechCrunch has contacted Amazon for more information. In email sent to Yahoo News, CNBC and other media, Amazon Spokes spokesperson said "The significant increase in hourly cash wages more than compensates for the phase of incentive pay and RSUs. We can confirm that all of these operations will increase their total compensation as a result of this announcement. In addition, because it is no longer incentive-based, the compensation will be more immediate and predictable. "
Source link
