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Amazon adjusts pay hike to cover lost bonuses

Published 10/10/2018, 05:01 PM
© Reuters.  Amazon adjusts pay hike to cover lost bonuses
AMZN
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  • Amazon (NASDAQ:AMZN) is making adjustments to its $15/hour minimum wage hike to ensure warehouse workers don’t lose money in the deal.
  • The company said today it would roll out additional raises for workers whose lost stock and bonuses amount to a compensation cut. The hourly additions have so far ranged from $0.25 to $2, depending on the facility and tenure. That adds to the extra $1/hour promised to those already making $15+.
  • Amazon will also replace stock awards given on employment anniversaries with cash bonuses totaling $1,500 after five years and $3,000 for each additional five years.
  • Previously: Amazon workers losing bonuses, stock awards in wage increase (Oct. 3)
  • Previously: Amazon sets $15 minimum wage for all U.S. employees (Oct. 2)
  • Now read: Should You Be Buying Amazon?


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