By now we’ve all heard about the big $15/hour pay hike for Amazon’s blue collar workforce. As you can imagine, it was met with huge cheers from tons of folks. Even Bernie Sanders!
Except not the long time employees who noticed that the incremental increase in cash pay comes with the removal of their fractional Amazon stock shares that were incorporated into their pay. Many of the Amazon folks are now realizing their total comp will actually decrease.
To be fair, there is much more involved such new accounting rules and laws that impact multiple programs. For example in one of the programs “gave employees shares in Amazon stock each year. They get to keep the shares if they are still working at the company after two years. Recently, employees have been getting two shares, worth about a combined $3,725 at current market value. With the changes, workers get to keep the stock granted in previous years but will not earn new shares.” According to an article in the Waterton Daily News.
Wanna learn more? https://www.risingmiddleclass.com/